The Union Budget is perhaps the most awaited event for general Indians and investors alike. Before the year’s Union Budget is presented on February 1, 2023, let’s see what the common Indian taxpayers expect this year. Basics of the Indian tax system Before we discuss the taxpayers’ expectations, let’s get the basics sorted. Tax is …
The Union Budget is critical for maintaining the economic advancements of the country. As guided by Article 112 of the Constitution of India, the central government must present a yearly budget before the beginning of the financial year. The Union Budget 2023 is significant for various reasons. It will be the last full-fledged budget before …
India has finally implemented a crypto tax system! The government adopted a cautious stance on taxes in the 2022-23 budget, setting a fixed tax rate on revenue from digital virtual assets. Finance Minister Nirmala Sitharaman said in her Union Budget presentation that revenue from the transfer of virtual digital assets will be subject to a …
When it came to the administration’s disinvestment objective for the following fiscal year, the catch was in the details, as it is with most budgets. The government plans to raise Rs 65,000 crore via disinvestment in state-owned firms in 2022-23, compared to Rs 1.75 lakh crore in 2021-22, according to the budget paper. Economists had …
In Budget 2022, Finance Minister Nirmala Sitharaman proposed to extend the scope of bonus stripping to include share transactions under the umbrella. This will disallow the investors from setting off the derivatives market profits with cash market losses. The step has been taken to plug the loophole that was being taken advantage of by many …
Finance Minister Nirmala Sitharaman kept the income tax rates unchanged in her budget for the 2022 fiscal year, which was largely infrastructure-focused. The following 10 things should be known by individual taxpayers: 1. When a property is sold, the tax is computed using the selling price or the property’s stamp duty value. TDS on such …
With a plan to enlarge the reach of financial services to the customers at the last mile, Finance Minister Nirmala Sitharaman in her Union Budget 2022, announced connecting the 1.5 lakh post offices to the core banking system. She also announced a plan to establish digital banking units (DBUs) by scheduled commercial banks in 75 …
India’s finance minister, Nirmala Sitharaman on February 1st, 2022 gave an hour and a half long speech wherein she outlined the proposed union budget 2022-2023. The value of a budget cannot be stressed enough as it outlines how the government plans to impose taxes and spend its money. This year, the budget gave special attention …
The Union Budget 2022 speech did not have mentions or changes in tax measures for the larger public. Union Budget 2022-23 did not modify the personal income tax rates. In addition, the minister did not enhance the standard deduction, which was expected in light of rising prices and the pandemic’s effect on the middle class. …
February 1, 2022, saw Nirmala Sitharaman, India’s finance minister, introduce the 2022-2023 Union budget. The 92-minute speech provided by her indicated the Government’s commitment to offsetting the adverse impacts caused by the pandemic. One of the most striking features of the proposed budget was the priority provided to growth as well as to the expansion …
