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  • Hello Friends,

  • In this video, I am going to speak about some key points related to Personal Taxation, Investments

  • and Capital Markets, from the Union Budget

  • Personal Taxation

  • Govt. will introduce Faceless scrutiny of tax assessment, and online pre-filled documents

  • for filing of returns with data on Salary, income and capital gains.

  • No changes in tax slabs except for taxable income above 2 Crores.

  • Effectively a person having net taxable income of 2 Crores plus will get taxed at 39% due

  • to 25% surcharge and above 5 Crores will get taxed at 42.7% due to 37% surcharge.

  • Additional income tax deduction of ₹1.5 lakh for interest paid on home loans for houses

  • costing below ₹45 lakh till March 2020.

  • ₹1.5 lakh income tax deduction on interest paid on loans for the purchase of electric

  • vehicles.

  • Investments

  • The Government has proposed the inclusion of ETFs investing in Central Public Sector

  • Enterprises under the ELSS category.

  • Income tax exemption limit for lump sum withdrawal from NPS increased to 60% from 40%.

  • Capital gains exemption arising from the sale of a residential house upon investment in

  • startups has been extended up to 31st March 2021.

  • The funds raised by startups will not require any kind of scrutiny by the Income Tax department

  • following the requisite declarations and information provided.

  • The waive-off for startups to justify the fair market value of their shares issued to

  • a category one AIF which include social venture, venture capital, SME funds is now also extended

  • to AIF category two funds which include private equity, real estate and debt structure funds.

  • Category I and II AIFs will be allowed to 'pass-through' their losses to investors.

  • This can be used to offset other capital gains.

  • Capital Markets

  • The government also proposed to relax know-your-customer (KYC) norms for foreign portfolio investors

  • and Merge the non-resident Indian (NRI) portfolio investment scheme route with the FPI route

  • to encourage more NRIs to invest in the country's capital markets.

  • The government also hopes to enable listing of social sector enterprises on a social stock

  • exchange.

  • Recapitalization of PSU banks with a capital infusion of Rs 70,000 crore.

  • The government would raise part of its borrowing in foreign currency.

  • The government will work with the RBI and Sebi to enable stock exchanges to allow AA-rated

  • bonds as collateral in the corporate tri-party repo market.

  • To see the impact of this year's Union Budget on your investment portfolio please read our

  • research report, you can also subscribe to our reports by sending a mail to micontact@mitraz.financial

  • This is Satish Anand from Mitraz Financial, Helping Clients Realize Their Aspirations.

Hello Friends,

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Budget FY20 Key Highlights - Personal Taxation, Investments and Capital Markets | Mitraz

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    up1217home posted on 2019/07/29
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