Diabytes
Union Budget 2021-22 News
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The government in September 2019 slashed corporate tax rate for companies that do not avail of any tax incentive, to 22 per cent.
New manufacturing companies have to pay at an even lower corporate tax rate of 15 per cent.
The Budget 2022-23 presented on February 1 proposed that the concessional 15 per cent corporate tax rate would be available for one more year till March 2024.
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Impact of Budget on Salaried individuals.
Hike in NPS govt contribution for state govt employees.
Extension of revised ITR filing window.
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Commonly used items like earphones, headphones and loudspeakers, umbrellas along with solar cells and solar modules and even toys are set to see a price hike due to an increase in customs duties on imported parts.
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The AVGC sector offers immense potential to employ youth, Budget 2022 said.
MPL's CEO Sai Srinivas said that gaming and animation is one of those sectors that have an incredible amount of exploring potential.
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No respite on Income Tax slab in the Budget.
Revised ITR filing window increased.
Move aimed to help in case of less filing of tax.
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However, the firm noted that the boost is short on major growth-enhancing structural reform announcements.
The planned acceleration in the infrastructure capex drive will likely provide a fillip to near- and medium-term growth if fully implemented.
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Sitharaman presented the Union Budget 2022.
She noted that with Budget 2022, the government will promote energy transition and climate action.
Das said that the next one or two years are going to be a net positive for the industry as a whole.
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Aatrey said that Union budget 2022 is forward-looking and inclusive.
He says Budget 2022 lays down the road map for an ‘Aspirational India’.
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The government will control the pricing of the digital rupee.
CBDC will give a big boost to the digital economy, said Budget 2022 document.
Digital Rupee using blockchain issued by the RBI will familiarise Indians with the benefits and efficiency of virtual currency.
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Sitharaman had acknowledged that hospitality firms are yet to regain their pre-pandemic level of business.
NRAI President Kabir Suri, however, said the extension of the Emergency Credit Line Guarantee Scheme (ECLGS) till March 2023 may ease current liquidity issues.
Suri said the restaurant industry was eagerly looking at some immediate liquidity support like restoration of input tax credit (ITC) on GST.
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No respite on Income Tax slab.
Revised ITR filing window increased.
Move aimed to help in case of less filing of tax.
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No respite on Income Tax slab.
Revised ITR filing window increased.
Move aimed to help in case of less filing of tax.
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Sitharaman said that the plan will facilitate the faster movement of people and goods.
She added that the National Highway network will be expanded by 25,000 km in 2022-23.
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Setting up of the long-awaited bad bank will ease the bad loan burden, said Religare Enterprises' Rashmi Saluja.
Saluja added that the Rs 20,000 crore capital infusion into public sector banks will allow more room for provisioning of bad assets.
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In terms of economic support, especially on infrastructure and taxation fronts, the Union Budget 2022 has delivered along expected lines, believe experts.
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Ritwik Bahuguna said that chemical-free farming should be promoted across the country.
He added that post-harvest value addition for key commodities requires targeted production linked incentives.
Kunal Kislay said technological intervention in the agricultural sector will open a new door of opportunities for agritech.
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Governmentt’s focus on empowering citizens and providing impetus to digital means of banking will accelerate the digital and financial inclusion of the masses, say experts.
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Sitharaman announced that 60,000 houses will be identified as beneficiaries for PM Awas Yojana in rural and urban areas.
Extension of ECLGS scheme is likely to have a rub-off effect on the real estate sector, said Anuj Puri, Chairman of ANAROCK Group.
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“This is a progressive Budget; benefits all sections especially farmers, women, youth,” said UP CM Yogi Adityanath.
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No respite on Income Tax slab.
Revised ITR filing window increased.
Move aimed to help in case of less filing of tax.
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