https://www.taxtmi.com/news?id=22479 The Budget articulates three policy themes-Aspirational India, Economic Development and Caring Society-supported by governance and financial sector reforms. Major tax reforms include an optional simplified personal income tax regime in exchange for foregoing specified exemptions, removal of Dividend Distribution Tax to tax dividends in recipients' hands, incentives for start ups, cooperatives and affordable housing, and a dispute resolution scheme to settle pending direct tax appeals with waiver of interest and penalties on timely payment. Indirect tax changes focus on GST simplification and strengthened customs rules, including pruning exemptions and targeted tariff adjustments to promote domestic industry. en-us Sat, 01 Feb 2020 18:24:24 +0530 Mon, 03 Feb 2020 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22479 The Budget articulates three policy themes-Aspirational India, Economic Development and Caring Society-supported by governance and financial sector reforms. Major tax reforms include an optional simplified personal income tax regime in exchange for foregoing specified exemptions, removal of Dividend Distribution Tax to tax dividends in recipients' hands, incentives for start ups, cooperatives and affordable housing, and a dispute resolution scheme to settle pending direct tax appeals with waiver of interest and penalties on timely payment. Indirect tax changes focus on GST simplification and strengthened customs rules, including pruning exemptions and targeted tariff adjustments to promote domestic industry. News - Sat, 01 Feb 2020 18:24:24 +0530 https://www.taxtmi.com/news?id=22479