1. Companies with Annual Turnover of 400 crore are under 25% tax in F.Y. 2019-20.
2. Interest deduction for purchase of electric vehicles – 1.5 lacs per year, in case of purchase of electric vehicles.
3. For purchase of affordable housing schemes (Houses upto 45 lacs)– 1.5 lacs additional interest deduction under section 24 for loans taken upto 31.03.2020.
4. NBFC-Deposit Taking and SI NBFC, now interest can be booked as and when realized for NPA’s.
5. Pre-filed return for Salary and capital gain.
6. TDS @ 2% on the cash withdrawals more than 1 crore from a single bank account.
7. No Merchant discount rates on both customer and merchants, for payments made by BHIM/UPI.
8. Surcharge to be increased on income made by individual-
Income from 2cr to 5cr- 3% increased tax
Income above 5cr- 7% increased tax
9. Costlier Petrol and diesel. SAD and Excise increased on Petrol and diesel by Rs. 2
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