Budget 2022 news

Government proposes 39 amendments to Finance Bill, 2022

Union Finance Minister Government has proposes 39 amendments to Finance Bill, 2022 Smt. Nirmala Sitharaman has proposed 39 amendments to Finance Bill, 2022 vide a Notice of Amendments dated 23.03.2022  introduced in Lok Sabha. Full text of the Notice of Amendments is as follows:- *List No. 1 LOK SABHA FINANCE BILL, 2022 [As introduced in...

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Posted Under: Income Tax | ,

Union budget 2022-23 encourages power of youth: Smt. Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman said that Union Budget 2022-23 recognises and encourages  the potential of youth, their technological skills and entrepreneurial spirit. “In the 75th year of our independence, the next 25 years are very critical to India’s development; therefore we wanted this year’s Budget to encourage...

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Posted Under: Income Tax |

FM chairs post-Budget meeting with heads of Banks, NBFCs & FIs

Finance Minister Nirmala Sitharaman chairs post-Budget meeting with heads of Banks, NBFCs and Financial Institutions. Finance Minister exhorts all banks to sign up to Account Aggregator Framework, says it will improve credit flow and promote digital lending. Meeting emphasizes that Benefits of digital banking should reach every nook and c...

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Posted Under: Income Tax |

Memorandum Seeking Changes In Union Budget 2022-23 Proposals

We here in, would like to bring to your kind notice, few of the issues which might be faced by taxpayers and Chartered accountants as regards certain specific proposals made in this Union Budget, 2022-2023....

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Posted Under: Income Tax |

Key Direct Tax proposals in Union Budget 2022

1. Reduced Alternate Minimum Tax rate and Surcharge on  Co-operatives Alternate Minimum Tax rate for the co-operative societies proposed to be reduced to 15% to bring it at par with the Minimum Alternate Tax payment by companies. Further, surcharge on co-operative societies proposed to be reduced from the present 12% to 7% 2. Rationalisa...

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Posted Under: Income Tax |

Govt criminalise illicit publication of Import and Export Data

The Finance Ministry has proposed a new section, 135AA, in the Customs Act vide Union Budget 2022-23. Proposed section 135AA of Customs Act, 1962 criminalise the illicit publication of personalised, transaction level information by private entities, which affects the competitive position of Indian businesses in international trade and c...

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Posted Under: Income Tax |

Highlights of Union Budget 2022-23

So, the highly-anticipated Budget 2022-23 is here. It dictates everything from how much taxes you will pay to the country’s economic growth. So let’s begin!! here are some highlights. 1. This year’s budget emphasized a lot on digitizing the entire ecosystem. After several meetings and a lot of back the government has finally ann...

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Posted Under: Income Tax |

Budgetary allocations increased for development of Youth & Yuvashakti

The budget is a blue print to fulfill the aspirations and hopes of [email protected]: Shri Anurag Thakur Ministry of Youth Affairs & Sports allocated Rs 3062.60 crore in the budget of 2022-23, an 11.08 percent rise in allocated budget as compared to the Budget estimate of 2021-22 Budgetary outlay for sports facilities and development of [&...

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Posted Under: Income Tax |

Budget 2022-23: 5 river linking projects on cards after consensus of beneficiary states

Budget 2022-23: Five river linking projects on cards after consensus of beneficiary states Mentioning the status of proposed five river linking projects in country, Union Finance Minister Nirmala Sitharaman said in her Budget speech that draft Detailed Project Reports (DPRs) of these river links have been finalized and consensus among ben...

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Posted Under: Income Tax |

Prime Minister’s Development Initiative for North-East, PM-DevINE

A new scheme, Prime Minister’s Development Initiative for North-East, PM-DevINE was announced by the Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman while presenting the Union Budget 2022-23 here today....

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Posted Under: Income Tax |

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