The Economic Survey for 2019-20, has once again highlighted the hurdles faced by entrepreneurs. According to the survey, it takes more documents to open a restaurant in

Eco Survey: buying a gun easier than opening a restaurant

The Economic Survey for 2019-20, has once again highlighted the hurdles faced by entrepreneurs. According to the survey, it takes more documents to open a restaurant in Delhi as compared to buying a gun.&nbsp;It states that entrepreneurs are required to obtain a 'Police Eating House License' from the Delhi Police, apart from the 26 mandatory licences. To get the police license, they need to submit a whopping 45 documents.&nbsp;The number of documents required is higher than most countries like China and Singapore, where just four licenses are required. On the other hand, for a gun license, a person has to submit just 19 documents. These include a fitness certificate, proof of residence, Income Tax slip, etc, all of which are readily available with most people. In fact, the process was further simplified further last year, when the Delhi Police launched an online service for applicants.

The Economic Survey for 2019-20, has once again highlighted the hurdles faced by entrepreneurs. According to the survey, it takes more documents to open a restaurant in Delhi as compared to buying a gun. It states that entrepreneurs are required to obtain a 'Police Eating House License' from the Delhi Police, apart from the 26 mandatory licences. To get the police license, they need to submit a whopping 45 documents. The number of documents required is higher than most countries like China and Singapore, where just four licenses are required. On the other hand, for a gun license, a person has to submit just 19 documents. These include a fitness certificate, proof of residence, Income Tax slip, etc, all of which are readily available with most people. In fact, the process was further simplified further last year, when the Delhi Police launched an online service for applicants.

Non-resident Indians not paying taxes in any foreign country will now be taxed in India, the Union Budget for 2020-21 has proposed. At present, if an Indian or a person

Non-resident Indians not paying taxes in any foreign country will now be taxed in India, the Union Budget for 2020-21 has proposed.&nbsp;At present, if an Indian or a person of Indian origin managed his stay in India such that he remained a non-resident in perpetuity, he was not liable to pay tax on his global income in India.&nbsp;The Union Budget 2020 has now proposed to introduce a deeming provision that every Indian citizen who is not liable to tax in any other country, by virtue of his domicile or residence, shall be deemed as a resident of India. Consequently, his global income would be taxable in India.&nbsp;Tightening the residency provisions, the Budget also proposed to reduce the period of stay in India to 120 days from 182 days earlier for persons of Indian origin to be categorised as non-resident Indians.

With experts terming the new tax regime complex and unavailing, Finance Minister Nirmala Sitharaman on Sunday said the new structure will definitely benefit taxpayers i

With experts terming the new tax regime complex and unavailing, Finance Minister Nirmala Sitharaman on Sunday said the new structure will definitely benefit taxpayers in certain brackets. She also added that more clarification will be issued by the government if needed. Soon after the announcement of a new income tax regime, the government on Saturday evening came out with a list of exemptions applicable for taxpayers switching to the new tax system. She also defended the new scheme by saying that it will benefit some taxpayers falling in certain brackets if not all.

Here are the big takeways from Budget 2020: 1) New income tax regime for those who forego exemptions 2) Fiscal Deficit: 3.8% for 2019-20; Estimated 3.6% for 2020-21 3)

Here are the big takeways&nbsp;from Budget 2020:
1) New income tax regime for those who forego exemptions
2) Fiscal Deficit: 3.8% for 2019-20; Estimated 3.6% for 2020-21
3)&nbsp;Nominal GDP growth for 2020-21 estimated at 10%
4)&nbsp;Companies Act to be amended to decriminalise civil offences
5)&nbsp;Tax deferred on employee stock ownership plan for start-ups
6)&nbsp;'Kisan Rail' network to ferry perishable goods faster
7) 'Krishi Udan' flights for farmers to be launched, NE to benefit
8)&nbsp;₹69,000 crores for health sector
9)&nbsp;₹99,000 crores for education sector
10)&nbsp;₹100 lakh crore on infrastructure in 5 years
11) ₹85,000 crores for SCs and OBCs
&nbsp;
12)&nbsp;5 new Smart Cities in public-private mode
13) 100 new airports by 2024
14) Govt to sell part holding in LIC

Finance minister Nirmala Sitharaman proposed a tax payers’ charter in the Income Tax Act to ensure fairness to assessees and to make sure that officials in order to col

Finance minister Nirmala Sitharaman proposed a tax payers&rsquo; charter in the Income Tax Act to ensure fairness to assessees and to make sure that officials in order to collect taxes do not end up harassing citizens.&nbsp;&nbsp;So what exactly is the Taxpayers Charter? A Taxpayer Charter is a unit in a tax department that explains what a taxpayer can expect from the authority and what is expected from them. The aim of the Charter is to nurture the relationship between the tax department and taxpayers.&nbsp;&nbsp;Sitharaman also proposed amendments to the Companies Act, 2013 and other laws that will take away criminal penalties for civil acts. About 44 offences under the Act are under consideration for amendment. "Businesses should have the confidence that things are fair and efficient in tax administration. A Taxpayers' Charter will be enshrined in the statute as part of our law. Our government would like to reassure taxpayers that we remain committed to taking measures so that our citizens are free from tax harassment. We are willing to put it into law, tax harassment cannot be tolerated, we mean it," she said.

Revenue Secretary, Ajay Bhushan Pandey, on Saturday said an Indian now has to stay abroad for 240 days, as against the 182 previously, to be categorised as a non-reside

Revenue Secretary, Ajay Bhushan Pandey, on Saturday said an Indian now has to stay abroad for 240 days, as against the 182 previously, to be categorised as a non-resident. In other words, an Indian national who wants to claim the non-resident status cannot stay in the country for 120 days, or more, in a year.
"We have made changes in the Income Tax Act where, if an Indian citizen stays out of the country for more than 182 days, he becomes a non-resident", he said.
The second rule is more pertinent, it says, a non-resident Indian who is not taxed in the foreign country where he/she lives will be taxed in India.
"If any Indian citizen is not a resident of any country in the world, he will be deemed to be a resident of India and his worldwide income will be taxed", he said.

In a move that will offer some relief to India Inc., Finance Minister Nirmala Sitharaman has proposed the shifting of Dividend Distribution Tax (DDT) to individuals ins

In a move that will offer some relief to India Inc., Finance Minister Nirmala Sitharaman has proposed the shifting of Dividend Distribution Tax (DDT) to individuals instead of companies in Budget 2020. Dividend income will now be taxed only in the hands of investors as per the tax rate applicable to their income. "To make Indian equity markets more competitive, companies will no more pay dividend distribution tax (DDT); it will be taxed in the hands of the recipient," she said. So far, companies were required to pay DDT at 15%, though including surcharge and cess put the effective rate at 20.56%. The withdrawal of the DDT will remove the cascading impact of taxation, and will eventually result in high investments in profit-making companies.

The Deposit Insurance and Credit Guarantee Corporation has been allowed to increase deposit insurance coverage to Rs 5 lakh per depositor from Rs 1 lakh, Finance Minist

The Deposit Insurance and Credit Guarantee Corporation has been allowed to increase deposit insurance coverage to Rs 5 lakh per depositor from Rs 1 lakh, Finance Minister Nirmala Sitharaman said in her budget speech. Deposit insurance is a protection cover against losses on bank deposits if a bank fails financially and has no money to pay its depositors. All deposits maintained by a depositor across all branches of a failed bank are clubbed together for the purpose for availing of the deposit insurance scheme. "Insurance cover per depositor is Rs 1 lakh. It has been now revised to Rs 5 lakh. Robust mechanism in place to monitor the health of banks, depositors' money is absolutely safe," she said. This move comes after the government and RBI were widely criticised over their handling of the closure PMC bank in September last year, leaving thousands of people helpless and unable to withdraw their own money.

Congress leader P Chidambaram has slammed the Union Budget, calling it a laundry list of old programmes. The former Finance Minister said that there was nothing in the

Congress leader P Chidambaram has slammed the Union Budget, calling it a laundry list of old&nbsp;programmes. The former Finance Minister said that there was nothing in the budget that&nbsp;leads one to believe that growth will be revived in 2020-21. He also said it was irresponsible of the govt to claim a growth of 6 - 6.5% for 2020-21.&nbsp;

Don't think success of indirect tax could mirror direct tax

Don't think success of indirect tax could mirror direct tax

'Overall quite an interesting and positive budget'

'Overall quite an interesting and positive budget'

There are some nice big ticket initiatives by the govt

There are some nice big ticket initiatives by the govt

'Healthcare allocation has increased but it isn't good enough'

'Healthcare allocation has increased but it isn't good enough'

Speech was as long as T20 match but less entertaining

Speech was as long as T20 match but less entertaining

Farmer incomes don't double by mere announcements

Farmer incomes don't double by mere announcements

'Capacity utilization created 2 years ago has not been utilized'

'Capacity utilization created 2 years ago has not been utilized'

Removal of dividend distribution tax is good for economy

Removal of dividend distribution tax is good for economy

'Some very interesting announcements were made'

'Some very interesting announcements were made'

'There is no big bang, we need smaller bangs'

'There is no big bang, we need smaller bangs'

Agri-marketting reforms are good for the market

Agri-marketting reforms are good for the market

'No Mention of railway budget surprising'

'No Mention of railway budget surprising'

explore newslists

शनिवार को दिल्ली के सीएम अरविंद केजरीवाल ने प्रेस कॉन्फ्रेंस कर वैक्सीन की कमी की बात कही. उन्होंने कहा कि अगर हमें पर्याप्त मात्रा में वैक्सीन की खुराक मिलती है, तो 3

Kejriwal said - if we get enough vaccine, you will end vaccination in 3 months - केजरीवाल बोले- पर्याप्त वैक्सीन मिले तो 3 महीने में खत्म कर देंगे वैक्सीनेशन

शनिवार को दिल्ली के सीएम अरविंद केजरीवाल ने प्रेस कॉन्फ्रेंस कर वैक्सीन की कमी की बात कही. उन्होंने कहा कि अगर हमें पर्याप्त मात्रा में वैक्सीन की खुराक मिलती है, तो 3 महीने के भीतर टीकाकरण पूरा हो सकता है. उन्होंने कहा कि दिल्ली में 18 साल से ऊपर के 1.5 करोड़ लोग हैं, जिनके लिए हमें 3 करोड़ डोज की जरूरत है, इनमें से अब तक केवल 40 लाख खुराक मिली है और हमें 2.6 करोड़ और खुराक चाहिए.
केजरीवाल ने कहा कि अगर दिल्ली सरकार को प्रति माह वैक्सीन की 80-85 लाख खुराक दी जाती है तो 3 महीने के अंदर कंप्लीट वैक्सीनेशन किया जा सकता है. उन्होंने बताया कि फिलहाल हम एक लाख वैक्सीन रोजाना लगा रहे हैं और पर्याप्त वैक्सीन मिलने पर इसे बढ़ाकर 3 लाख किया जा सकता है.
&nbsp;

शनिवार को दिल्ली के सीएम अरविंद केजरीवाल ने प्रेस कॉन्फ्रेंस कर वैक्सीन की कमी की बात कही. उन्होंने कहा कि अगर हमें पर्याप्त मात्रा में वैक्सीन की खुराक मिलती है, तो 3 महीने के भीतर टीकाकरण पूरा हो सकता है. उन्होंने कहा कि दिल्ली में 18 साल से ऊपर के 1.5 करोड़ लोग हैं, जिनके लिए हमें 3 करोड़ डोज की जरूरत है, इनमें से अब तक केवल 40 लाख खुराक मिली है और हमें 2.6 करोड़ और खुराक चाहिए. केजरीवाल ने कहा कि अगर दिल्ली सरकार को प्रति माह वैक्सीन की 80-85 लाख खुराक दी जाती है तो 3 महीने के अंदर कंप्लीट वैक्सीनेशन किया जा सकता है. उन्होंने बताया कि फिलहाल हम एक लाख वैक्सीन रोजाना लगा रहे हैं और पर्याप्त वैक्सीन मिलने पर इसे बढ़ाकर 3 लाख किया जा सकता है.

Budget 2020

Non-taxpaying NRIs to be taxed in India: FM

New tax regime to definitely benefit taxpayers in some brackets: FM

Tax cut to LIC divestment: big takeaways from #Budget2020

'No tax harassment': Budget 2020 introduces Taxpayers' Charter

Govt: Indians have to live abroad for 8 months in a year to be NRIs

Budget 2020: govt abolishes Dividend Distribution Tax

Budget 2020: Depositor insurance raised from ₹1 to ₹5 lakh

Chidambaram: govt has given up on reviving economy

Mukesh Bhutani on Budget 2020

Anshuman Magazine on Budget 2020

Rakesh Mittal on Budget 2020

Naresh Trehan on Budget 2020

Shashi Tharoor on Budget 2020

Ajay Vir Jakhar on Budget 2020

Vipin Sondhi on Budget 2020

Ajit Gulabchand on Budget 2020

Sunil Kant Munjal on Budget 2020

Vikram Kirloskar on Budget 2020

Piruz Khambatta on Budget 2020

Vinayak Chaterjee on Budget 2020

follow editorji

download editorji