india's Finance Minister Nirmala Sitharaman presented the budget and here is the list of some other key targets for FY20.  Accordingly the government expects Rs 57,480 cr from PSU companies' dividends in FY20
Aim to get Rs 1.06 lakh cr from RBI, banks' dividend in FY20   
Aims to buyback govt bonds worth Rs 50,000 cr in FY20
Non-tax revenue target at Rs 3.13 lakh cr            
Net tax revenue target at Rs 6.49 lakh cr 
Gross tax revenue target at Rs 24.6 lakh cr
Aims to get Rs 3 lakh cr from small savings schemes
Net borrowing target at Rs 4.73 lakh cr
Gross borrowing target at Rs 7.1 lakh cr

Image result for Highlights from Union Budget 2019 by Nirmala sitaraman

Some details from the budget 2019

1. In order to discourage the practice of avoiding Dividend Distribution Tax (DDT) through buyback of shares by listed companies, it is proposed to provide that listed companies shall also be liable to pay additional tax at 20% in case of buyback of share, as is the case currently for unlisted companies.

2. Incentives to National Pension System (NPS) subscribers. it is proposed to,- increase the limit of exemption from the current 40% to 60% of payment on final withdrawal from NPS;
allow a deduction for employer’s contribution up to 14% of salary from the current 10%, in the case of Central Government employee
- allow deduction under section 80C for the contribution made to Tier II NPS account by Central Government employees.



3. To discourage the practice of making business payments in cash, a 2% tax to be levied on cash withdrawal exceeding Rs 1 crore in a year from a bank account.

Analysis of the tax on super-rich individuals: Reportedly with the additional surcharge, individuals with income between Rs 2 to 5 crore will pay an effective tax rate of 39% individuals over Rs 5 crore will pay an effective peak tax rate of 42.7% and the peak rate is closer to or even higher than the peak tax rates in some countries such as the US.


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