24
Aug

Key Measures taken to boost Economy by Finance Minister

  • Higher Surcharge on long and short term capital gains made from transfer of equity shares withdrawn for FPIs and domestic investors. Further no higher surcharge on derivative income for FPIs but for domestic investor, higher surcharge will be applicable.
  • Angel Tax for startups not applicable i.e. Section 56(2) (viib) shall not be applicable to startups registered under DPIIT. Dedicated cell at CBDT to address the tax problems of start ups
  • 70,000 crores upfront to be released as additional lending and liquidity.
  • CSR will only be treated as civil liability, not criminal matter
  • All pending GST refund due to Ministry of Micro, Small and Medium Enterprises will be paid in 30 days from today. In future every refund will be done in 60 days.
  • BSIV vehicles purchased till 31.03.2020 to remain operational till period of registration. Revision of one-time registration fees put off till June 2020. An additional 15 per cent (Total 30 per cent) depreciation on all vehicles till 31.03.2020. Ban on purchase of new vehicles for the government lifted.
  • Housing finance companies will get an additional Rs 20,000 crore from the NHB.
  • NFBCs will now be able to use Aadhaar-authenticated KYCs to simplify the taking up of credit.
  • Faceless scrutiny from Vijay Dashmi.