Analysis of the Union Budget 2020-21
The Annual Post Budget Analysis session of the World Trade Center was held at the Four points by Sheraton Kochi. The programme had participants from various sectors such as - IT, manufacturing, consulting, finance, healthcare etc.
Dr. V.K. Vijayakumar, Renowned Economist and Author delivered the keynote address. Mr. Raghunathan Parthasarathy Associate Partner, Tax & Regulatory services, BDO India LLP and Mr. Dinesh Kumar B. – Associate Partner, Indirect Tax, BDO India LLP provided detailed analyses.
Dr. V.K. Vijayakumar in his keynote address said that the Government has now reached a point where further fiscal or monetary stimulus is difficult. He mentioned that there had also been corporate friendly measures at this Union budget like the corporate tax for existing companies slashed to 22 per cent. He added that now the Dividend distribution tax will be deducted from the recipients which could mean discouraging a large number of HNIs who are potential investors.
Mr. Raghunathan Parthasarathy in his presentation touched on the various amendments in personal taxation. He also explained as how a non-resident will be taxed in India on the property he owns. He also added that the due dates for submitting tax audit reports, return filings etc. had been revised. Mr. Dinesh Kumar in his presentation elaborated on the various amendments in Goods & Services Tax, Customs. He also listed the major changes in duties charged for various commodities.
The programme was done together with Indo-American Chamber of Commerce and BDO India.