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What is the new tax law for 2020?

From 1st April 2020, Finance Minister Nirmala Sitaraman had introduced a new personal income tax regime. As per this new rule, lower income tax rates will be applicable for individual taxpayers who forgo exemptions and deductions. You can read about the Tax Administration Reform Commission (TARC) – Mandate, Report, Recommendations in the given link.

Further readings:

  1. Tax Policy Council & Tax Policy Research Unit: Notes for UPSC
  2. Taxation in India – Direct taxes & Indirect Taxes, Features of Taxation System

Related Links

Taxation System in India – Types, GST, VAT, Objectives, Limitation, Laffer Curve

Direct Tax Code (DTC) – Implementation, Objectives, Pros & Cons

CBDT – Central Board of Direct Taxes: Functions and Structure

Double Taxation Avoidance Agreements (DTAA) – Countries Involved, Income Tax Provisions

Central Board of Indirect Taxes & Customs (CBIC) – Functions 

Global Corporate Tax and India: RSTV- Big Picture

Tobin Tax – Definition, Evaluation and Relevant Questions

Carbon Tax – Meaning and an Overview [UPSC Notes]

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