It’s Budget time .. employees and entrepreneurs are expecting the government to deliver the reforms to help to compensate the loss of business and jobs due to COVID-19.
On Monday, Feb 01st 2021, Finance Minister Nirmala Sitharaman presented her third Budget, where she put more emphasis on Infrastructure spending, raised customs duty to create jobs. No major changes to Taxes (Income Tax & GST).
+ As expected by Team EZTax.in before the budget .. Budget 2021 has focused to increase the importance for self-reliance in manufacturing, infrastructure, domestic service sector, and restrictions on imports by removing the exemptions on customs duty on some and adding additional duty on others. The theme of the budget is to increase the prospects in job creation and real assets in the society. business and jobs due to COVID-19.
+ Kick started the reforms in Insurance sector, allocated biggest budget ever to health care due to COVID-19 pandemic, though uncomfortable, allocated a massive budget towards infrastructure spending by borrowing from the markets. Removed the tax audit requirement for most of the SME sector whose turnover up to 10 crores. Promotion of Digital Currency etc.
+ Rationalisation in GST slab rates to promote some and discourage import oriented goods and/or services. Expectation on giving larger incentives for MSME sector who are desperately need of cash to re-engage with their businesses.
Indian Budget 2021 Presentation
Covering Key Takeaways & Analysis, Budget 2021 Highlights, New Vs Old Personal Income Tax Regime from FY 2020-21, Expectations before Budget, what was a hit or miss ?
Agri-Infra Cess introduced on specific goods
Agri-Infra Cess introduced on specific goods to collect additional funds for agri infra. Consumers unlikely to be impacted due to Agri Cess. Know more on what’s changing ?
How to refinance your home loan in India?
Home loan interest rates are changing every quarter as they are linked to repo rate from 1st Oct 2019. One should pay attention to refinance your existing home loan for a lower home interest rates if eligible and suitable. Understand eligibility, due-diligence, benefits, fees, and how to approach the lender
Ways to maximise your credit card benefits?
Credit Cards have offered us both Security and Convenience to Shop Online and maintain the Social distancing. Understand the benefits offered by the Credit Cards and tips on how to maximise credit card benefits such as Sign-up bonuses, advantage cards, Shopping points, low to no annual fees.
Tax Compliance Calendar for FY 2020-21 (IT, GST, TDS)
Tax Compliance Calendar for FY 2020-21 covering important due dates for Income Tax Filing, GST (GSTR1, GSTR3B. RET1), TDS Payments, Preparation, & Filing, ROC, and general accounting from Apr 01st 2020 to Mar 31st 2021 with a primary focus on Individuals, Professionals, & SME Businesses.
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On behalf of my team ..
Founder & CEO @ EZTax.in
Newsletter > February 2020