FICO (Federation of Industrial & Commercial Organization) organized a special screening of Union Budget 2020-2021 at FICO Secretariat, Jaimal Road, Janta Nagar, Ludhiana under the chairmanship of S. Gurmeet Singh Kular President along with Shri Rajeev Jain General Secretary FICO.
S. Gurmeet Singh Kular shared his observations, where he welcomed the decision of “raise in turnover threshold for audit from Rs 1 crore to Rs 5 crore” he also said that this budget is Non-Industrial Friendly Budget, as the under noted points have again been neglected.
1. No Special Package for MSME Sector
2. Tricky Deductions in Personal Income Tax
3. Privatization of LIC
4. The Rationalization of GST