New Delhi, February 1: Finance Minister Nirmala Sitharaman on Saturday said dividend distribution tax has been shifted to individuals instead of companies. Catch Live Updates of Budget 2020 Here.  

In her second Budget presentation, the Finance Minister said concessional tax rate of 15 per cent has been extended to power generation companies. The government plans 100 per cent tax concession to sovereign wealth funds on investment in infra projects, she added.

Sitharaman further said concessional withholding rate of 5 per cent on interest payment to non-residents has been extended up to June 30, 2022. Income Tax Rates And Slabs For 2020-21: Nirmala Sitharaman Announces 'Optional' New Tax Regime in Budget 2020, Reduces Tax For Income Up to Rs 15 Lakh Without Exemptions.

The Finance Minister also proposed deferment of tax payment by employees on employee stock ownership plan (ESOPs) from startups by five years.