New Delhi, FEB 01 2021|| News Desk

Synopsis:
Budget 2021 live updates: No change in Income Tax slabs; big boost for healthcare & infrastructure

3:12 (IST) Feb 01 Government has proposed farm cess of Rs 2.5/litre on petrol, Rs 4 on diesel

13:03 (IST) Feb 01 Following the Budget speech, finance minister Nirmala Sitharaman tables 15th Finance Commission report in Lok Sabha

13:00 (IST) Feb 01 Markets cheer Budget 2021
Sensex jumps over 1,600 points after Nirmala Sitharaman’s speech, Nifty reclaims 14,100

12:50 (IST) Feb 01 No change in I-T slabs

12:50 (IST) Feb 01 Sitharaman concludes her Budget speech

12:49 (IST) Feb 01 Customs duty on solar lanterns cut to 5%

12:49 (IST) Feb 01 Union Budget 2021: Customs duty on cotton increased to 10%, silk to 15%

12:48 (IST) Feb 01 Customs duty on some auto parts to be raised to 15%: FM

12:48 (IST) Feb 01 Union Budget 2021: Customs duty on copper scrap cut to 2.5%

12:47 (IST) Feb 01 Propose to notify rules to eliminate double taxation for NRIs on foreign retirement funds: FM

12:43 (IST) Feb 01 Feeling among some workers who have lost job due to Covid (another RK Laxman timeless classic)

12:43 (IST) Feb 01 Late deposit of employee’s contribution to PF by employers will not be allowed as deduction to employer: FM

12:39 (IST) Feb 01 To further ease filing of IT returns, details of capital gains and interest from banks, post offices, etc will be pre-filled

12:37 (IST) Feb 01 Tax holiday for affordable housing extended for one more year till March 31, 2022: FM

12:36 (IST) Feb 01 Union Budget 2021: Propose to make dividend payments to REIT (estate investment trusts) and Invit’s (Infrastructure investment trusts) exempt from TDS, says FM.

12:34 (IST) Feb 01 Advance tax liability on dividend income shall arrive only after declaration of payment of dividends: FM

12:34 (IST) Feb 01 Tax audit limit increased from Rs 5 crore to Rs 10 crore

12:32 (IST) Feb 01 FM announces faceless dispute resolution panel

12:32 (IST) Feb 01 Fiscal deficit almost 3 times the target

12:31 (IST) Feb 01 Will reduce the time limit for reopening assessments to 3 years from present 6 years: FM
In serious tax evasion cases, only where there is evidence of concealment of income of Rs 50 lakh or more in a year, can reassessment be opened for 10 years

12:29 (IST) Feb 01 In the 75th year of Independence of our country, we shall reduce compliance burden on senior citizens. For senior citizens over 75 who only have pension and interest income, I propose exemption of filing of income tax returns: FM

12:28 (IST) Feb 01 Will take further steps to ease tax compliance: FM Sitharaman

12:27 (IST) Feb 01 Contingency Fund to be increased to 30,000 crore

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