ALL News Headlines 2020 February 1ST

Budget 2020: Finance Minister Nirmala Sitharaman on Saturday announced an optional new income tax regime that levies a lower tax rate on people who do not want to claimA Claim A claim is “factually unsustainable” where it could be said with confidence before trial that the factual basis for the claim is entirely without substance, which can be the case if it were clear beyond question that the facts pleaded are contradicted by all the documents or other material on which it is based. any of the specified exemptions or deductions. At a Press conference after she presented the budget proposals in the Lok Sabha, Sitharaman said the intention was to reduce the rate as much as to simplify the tax structure.

“We wanted to be sure that the money is in the hands of people so we brought down tax for the middle class and the lower middle class,” she said.

Shaheen Bagh: In the backdrop of the forthcoming Delhi assembly elections, Delhi Lieutenant Governor Anil Baijal has directed Police Commissioner Amulya Patnaik to ensure outsiders and suspicious characters are thoroughly frisked before they can access the Shaheen Bagh protest side. Baijal’s clear directive comes against the backdrop of a shooting incident just 50 metres from the stage earlier in the day.

New tax regime: Chief Election Commissioner, his two colleagues and the key public service recruitment body Union Public Service Commission leadership will have to start paying more taxes from April next year. In her budget proposals that introduced a new tax regime for individuals to reduce tax exemptions for lakhs of taxpayers, Nirmala Sitharaman also incorporated a proposal to amend the law that had exempted the top-ranking functionaries from paying tax on four allowances.

MARKET TODAY

SENSEX-39735.53 (-987.96)
NIFTY-11661.85 (-300.25)
GOLD (MCX 10 GM)-41230.00 (230.00)
SILVER (MCX 1 KG)-47160.00 (171.00)
USD ($) / INR(Rupees Icon)-71.46 (0.28)

Budget High Lights 2020

Pay more

Medical equipment
Footwear
Furniture
Wall fans
Cigarettes, tobacco products
Tableware/kitchenware made of porcelain or China ceramic
Clay iron
Steel
Copper
Catalytic converters
Parts of commercial vehicles
Selected electronic vehicles
Selected toys
Selected mobile equipment

Pay less

Raw sugar
Skimmed milk
Soya fibre
Soya protein
Certain alcoholic beverages
Agro-animal based products
Tuna bait
Purified terephthalic acidAcid A chemical that gives off hydrogen ions in water and forms salts by combining with certain metals. Acids have a sour taste and turn certain dyes red. Some acids made by the body, such as gastric acid, can help organs work the way they should. An example of an acid is hydrochloric acid. Acidity is measured on a scale called the pH scale. On this scale, a value of 7 is neutral, and a pH value of less than 7 to 0 shows increasing acidity. (PTA)
Newsprint
Lightweight coated paper