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Budget 2022-23 - Quick Updates

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Budget 2022-23 - Quick Updates
CS Swati Dodhi By: CS Swati Dodhi
February 1, 2022
All Articles by: CS Swati Dodhi       View Profile
  • Contents

New Budget so far 

  1. 2 lakhs crores additional help for MSMEs.
  2. Public Issue of LIC is expected shortly.
  3. Credit-Linked Guarantee Scheme extended till March 2023.
  4. One class-one TV channel and 200 TV channels to provide education in all Regional languages.
  5. A Digital University will be set up for higher education.
  6. 80 Lakhs homes to be completed under PM Aawas Yojna.
  7. Maximum Governance, minimum Government  - Doing business Easily 2.0 to be launched.
  8. E-Passports introduction - Using embedded chip to be rolled out in 2022.
  9. Green Clearance Portal scope to be expanded.

Direct Tax:

  • Minimum Alternate Tax for cooperatives reduced to 15%
  • Updated Return can be filed within 2 years from the end of relevant assessment year.
  • Tax incentives for new start ups extended by 1 year.
  • Corporate Tax reduced to 15% from 18%
  • Long term capital gains to be taxed at 15 %
  • 30% tax on vertical digital asset after deducting the cost of acquisition, no other deductions permitted

 

By: CS Swati Dodhi - February 1, 2022

 

 

 

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