January 13, 2020
The 2020 Financial Year is approaching and the discussion on government’s this year’s budget agenda has already become the hottest news-talks of the country. It is that point of time where people have started pondering over the implications of pre-budget memorandum presented this year. Understanding that this is public’s primary ‘need-to-know’ current affair, we are illustrating what a pre-budget memorandum refers to and what are the main points presented in pre-budget memorandum of 2020.
Institute of Chartered Accountants of India issued a memorandum that suggests certain points to consider prior to the formulation of tax proposals for the year 2020-21. The memorandum has the following sections:
The detailed description of the suggestions put forward by Institute of Chartered Accountants of India can be viewed here.
A number of suggestions were put forth by the Institute of Cost Accountants of India (ICAI) forum too for consideration by the Union Government comprise. Plenty of suggestions were illustrated in the memorandum under a number of heads, of which the first thirty suggestions are listed below
The suggestions put forward by ICAI in the pre-budget memorandum extend to more of likewise subjects mentioned. Apart from these, ICAI has also recommended certain general suggestions and technical suggestions among more other suggestions. The existing situation and in depth suggestion for each and every budget topic are explained in detail in the ICAI PDF link provided here for readers who particularly research on the topic.
The cost accountants, chartered accountants and a number of other forums who have the deepest knowledge of the country’s finance and economy system give in their suggestions about where the consideration of Union Government is required the most. With a pre-budget memorandum prepared by a forum of professionals, it is expected that the following purposes will be served: