The Indian Finance Minister presented the Union Budget 2021 on February 1 2021. This year’s budget lays focus on the six pillars for reviving the economy – Health and Wellbeing, Physical and Financial Capital and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D, and Minimum Government Maximum Governance. We have summarized some of the key tax announcements made in the Budget which include some clarifications with respect to the equalization levy or the digital service tax and various other procedural changes. Most of the tax proposals will be applicable from April 1, 2021 unless otherwise specified. Please access the updates here and here.
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