Union Budget 2022-23: 4 steps govt can take to ease burden on taxpayers
2 years, 10 months ago

Union Budget 2022-23: 4 steps govt can take to ease burden on taxpayers

India Today  

The Covid-19 pandemic has not only hit jobs but also left a large number of households grappling with rising living costs. NEW TAX REGIME ADJUSTMENTS The previous budget did not provide any major relief to the salaried class and experts said the government must consider revising the personal income tax slab in the Union Budget 2022-23. Many experts believe that the two tax regimes still confuse the common man and it would be ideal to announce measures to so more taxpayers shift to the new income tax regime. Archit Gupta, Founder and CEO, Clear said the government could consider increasing the highest tax slab to Rs 20 lakh from Rs 15 lakh or allow certain deductions to make the new regime more enticing. Archit Gupta said, "Due to the high direct tax collection this fiscal year, there may be a scope to increase tax deduction limits.

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