While last minute investments may manage to lower total tax outgo, they are unlikely to align well with the financial goals of taxpayers

The Budget 2020 has introduced more tax slabs and offers higher limits provided the taxpayer is ready to forego all the existing exemptions and deductions including home loan interest, other tax savings investments

Civil society organisations, networks and support organisations in the non-profit sector have much to gain from making allies of professional advisors in fundraising for philanthropic causes

TDS contributes to over 40 per cent of collection under the direct taxes category

Calculator compares taxes in old and new tax regimes for financial year 2020-21 and has been hosted on department's official e-filing website -- incometaxindiaefiling.gov.in

Budget 2020 taxes: Overall, it appears to be a balanced budget without rubbing the investors/taxpayers in the wrong way.The government has continued with its agenda of simplifying the tax structure for corporates and making it more transparent

Kumar was commenting on the Budget proposal of finance minister Nirmala Sitharaman

In Budget 2020, Centre proposed to levy TDS at 10 per cent on dividend income paid by a company or mutual fund to shareholders if amount exceeds Rs 5,000 a year

The income tax provisions in the Union Budget 2020 have given taxpayers a bonanza with a caveat. While the income tax slabs have been overhauled with reduced rates, the majority of the deductions have been removed. Tax payers are unsure about which slabs to opt for. Watch the video for more.Also Read: Union Budget 2020: Tax experts not satisfied with govt's clarification on NRI tax

The decision to switch to the new income tax rates will depend on the level of deductions that you are able to use in the present regime

The Budget aims at boosting consumption and private investment to pull the economy forward

The new tax regime, though optional, will need taxpayers to forego various tax exemptions available in the old regime

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BSNL, MTNL VRS scheme: Employees opting for VRS will have to wait till FY21 for duesBharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) employees, who have opted for voluntary retirement scheme (VRS) scheme, will have to wait for next fiscal year i.e. FY21 (2020-21) to get their dues. The reason for this delay is because the Union Budget 2020 has not made any provisioning for any disbursement towards the programme in the FY20 (current fiscal year).Travel bans in virus...

Budget 2020 taxes: The Union Budget 2020-21 brought in a lot of changes in the tax slabs. Here's a detailled lowdown on the new tax regime

Budget 2020: The FM gave a clarification about the purpose of new tax regime, which were--'reduce tax incidence' and 'remove all exemptions'

Taxpayers got what they wanted from Union Budget 2020-21. Finance Minister Nirmala Sitharaman announced a \"new, simplified tax regime\" for individual taxpayers. The new income tax regime comes with lower tax rates. However, around 70 deductions and exemptions, have been withdrawn. Watch Nirmala Sitharaman as she explains the new regime in a press conference post budget presentation.Also Read: Income Tax calculation: You can save up to Rs 31,200 under new tax slabs

Budget 2020: Employer's contribution to Employees' Provident Fund (EPF), National Pension System (NPS) and superannuation fund above Rs 7.5 lakh to be taxed

The new tax regime, though optional, will require taxpayers to forego various tax exemptions available in the old regime. The net benefit, thus, may not be positive for all taxpayers

Finance Minister Nirmala Sitharaman has announced new income tax rates during the session of Budget 2020. Those earning Rs 5-7.5 lakh would be liable to pay just 10 per cent, while those earning up to Rs 5 lakh in a year would pay no tax. The rates would be significantly reduced for those who forego reliefs, exemptions, Sitharaman said. While the government had announced changes in the tax slabs by raising income tax slabs, those availing these new slabs would not be eligible for rebates and exemptions. \"In this new personal income tax regime, income tax rates will be significantly reduced for the individuals who forgo certain exemptions and deductions,\" the FM said. Watch the video for more.Also Read: Income Tax calculation: You can save up to Rs 31,200 under new tax slabs