The Indian Finance Minister presented the Budget Proposals for the Financial Year 2019-2020 on 5 July 2019.
This year’s budget can be seen as a pre-cursor to the upcoming Direct Tax
Code with more focus on rationalising the existing provisions & procedures rather than revision in the policy-framework. There have been significant changes in few areas like TDS provisions, personal taxation and faceless assessments while impetus has been granted to start-ups and mega-manufacturing plants. From the economic survey and the budget proposals, it appears that the aim continues to be on shaping economy for a new India with doors of opportunities open to all.
C. Mehta & Co. Chartered Accountants (KCM) recently hosted two symposiums on the proposals of the Finance Bill 2019 in Vadodara and Ahmedabad. In Ahmedabad 120 attended and in Vadodara 260 came to listen to the brief. They have also put together a summary of the proposals contained in the budget to help others understand the budget.
Download the summary here.