Budget 2022: 8 key tax-related expectations
2 years, 10 months ago

Budget 2022: 8 key tax-related expectations

India Today  

Finance Minister Nirmala Sitharaman is set to present her fourth Union Budget on Tuesday at a time when India’s economic recovery faces fresh challenges. Here are top expectations of taxpayers and corporates: DIRECT TAXES In the Union Budget 2022, 80C deduction available up to Rs 1.5 lakh a year should be revised upwards significantly. INDIRECT TAXES Rationalisation of Customs duty structure for EV and ancillary components, renewable energy generation devices and related components is likely in the upcoming Union Budget. EXTENSION OF CUSTOMS CUTY EXEMPTION Extension of customs duty exemption on goods imported for testing, and setting up of a customs dispute resolution forum, easing compliance with customs, and integration of the current ICEGATE, DGFT and SEZ online portal into a common digital platform are expected in Budget 2022, PTI reported.

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