Capital Gains to Increase in Spending Power, Here's What the Common Man Expects from Budget 2021
3 years, 10 months ago

Capital Gains to Increase in Spending Power, Here's What the Common Man Expects from Budget 2021

News 18  

With India slowly recovering from the pandemic, the public is hopeful of buoyancy in the economy and the introduction of a taxpayer-friendly budget. Thus public expects that Budget 2021 should introduce measures that would provide certain tax benefits for employees. Increase in Spending Power of the Consumer From the taxation point of view, experts say the budget must bring in some tax reforms as well as relief to increase the spending power of the consumer. Long-term Capital Gains On Equity Shares And Equity Mutual Funds Long-term capital gains from the sale of listed equity shares and equity mutual funds are tax-exempt up to Rs 1 lakh. Introduction to Debt Linked Savings Scheme Industry experts believe the introduction of DLSS will help channelize long-term savings of retail investors into higher credit rated debt instruments with appropriate tax benefits which will help in deepening the Indian Bond Market while also help investors to park their monies in a proposed shorter lock-in product v/s a PPF or NPS.

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History of this topic

Budget 2024 Boost To New Tax Regime: Standard Deduction Raised To Rs 75k From Rs 50k
5 months ago

Budget 2024 Boost To New Tax Regime: Standard Deduction Raised To Rs 75k From Rs 50k

News 18  

Finance Minister Nirmala Sitharaman on Tuesday announced to increase standard deduction limit to Rs 75,000 under the new tax regime, compared with Rs 50,000 earlier. Presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will come out with SoP for TDS defaults and simplify and rationalise compounding of such offences. More than two-thirds of individuals …

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know
5 months ago

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know

India TV News  

Union Budget 2024: The general population, particularly those in the salaried and middle-class brackets, are anticipating significant relief measures from the government through the budget being presented today. They recommend raising the 30 per cent tax slab to apply on income exceeding Rs 20 or 25 lakh, instead of the current Rs 15 lakh limit. Additionally, there is a call …

Budget 2023 Expectations LIVE Updates: FM Expected to Announce Tax Benefits for Salaried, Middle Class
1 year, 10 months ago

Budget 2023 Expectations LIVE Updates: FM Expected to Announce Tax Benefits for Salaried, Middle Class

News 18  

Budget 2023 Expectations: 'Healthcare Budget For Moving Towards Value-Based Care Model' Apurva Sule, Chief Business Officer, Heaps Health, said, “The National Health Authority, in its most recent announcement, plans to introduce a new system wherein the performance of the hospitals empaneled with the central flagship scheme Ayushman Bharat Pradhan Mantri Jan Arogya Yojana will be graded on value-based health care …

Union Budget 2023-24: Aiming For A Fine Balance
1 year, 10 months ago

Union Budget 2023-24: Aiming For A Fine Balance

News 18  

The Indian economy has been recovering well from the pandemic. With this context, restricting GFD/GDP to around 5.8 per cent should be targeted and ensure the government remains committed to the target of reaching 4.5 per cent by FY2026. We see five key reasons for a limited space for a “populist” Budget — Lower tax revenue growth, given lower GDP …

From Tax Exemption To Rural Push, Here Are Key Expectations From Budget 2023
1 year, 11 months ago

From Tax Exemption To Rural Push, Here Are Key Expectations From Budget 2023

News 18  

The Budget 2023 is set to be tabled in Parliament by Finance Minister Nirmala Sitharaman on February 1. Here are five major expectations from the Union Budget 2023-24: Tax Exemption Limit There is an expectation that the government might give a relief to individual tax payers by raising tax exemption or rebate limit. If the salary goes above Rs 5 …

Budget 2023: Why investors wish for easing in long term capital gains?
1 year, 11 months ago

Budget 2023: Why investors wish for easing in long term capital gains?

Live Mint  

Simplification in the tax structure such as long-term and short-term capital gains are some of the tax reliefs investors are hoping for in the upcoming Budget of 2023. However, Vijayakumar added that one reform that is overdue is the simplification of the capital gains tax regime which is presently very complex with different rates for different assets and different holding …

Budget 2023: Why govt should consider tax relief despite limited fiscal room
1 year, 11 months ago

Budget 2023: Why govt should consider tax relief despite limited fiscal room

India Today  

An incremental tax relief in the upcoming Union Budget 2023 could help the central government provide consumption support to the Indian economy in FY24 and shield it from the worsening financial environment in the West. Recently, global economic experts, including International Monetary Fund Deputy Managing Director Gita Gopinath, noted that an inflation-driven price shock could disrupt the lives of people …

A preview to the Union budget, in five charts
2 years, 10 months ago

A preview to the Union budget, in five charts

Live Mint  

Two of the three Union Budgets presented by Finance Minister Nirmala Sitharaman so far have had a distinct backdrop behind them. For 2021-22, the Centre increased the total budget size by a measly 1%, against the average annual increase of 15% in the preceding four years. Every rupee of capital expenditure by the government adds ₹2.50 to the GDP, according …

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 …

How will Budget 2021 impact senior citizens, NRIs and salaried people
3 years, 10 months ago

How will Budget 2021 impact senior citizens, NRIs and salaried people

Business Standard  

Finance Minister Nirmala Sitharaman presented her third Union Budget in Parliament, which rests on six pillars – health and well-being, physical, financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation and R&D and minimum government and maximum governance. As the Covid-19 pandemic hit India last year, the government witnessed a rising expenditure and tumbling revenue, even …

Union Budget 2021: Five Income Tax Changes You Should Know
3 years, 10 months ago

Union Budget 2021: Five Income Tax Changes You Should Know

News 18  

The Union Budget 2021 presented by Finance Minister Nirmala Sitharaman on Monday did not announce change in income tax slabs for individuals, leaving them disappointed. In a move to justify tax exemption for high income employees, the 2021 Budget proposed to restrict tax exemption for the interest income earned on the class’ contribution made to various provident funds up to …

Budget 2021: Setback For High Income Earners, Interest On PF Contribution Above Rs 2.5 lakh Now Taxable
3 years, 10 months ago

Budget 2021: Setback For High Income Earners, Interest On PF Contribution Above Rs 2.5 lakh Now Taxable

ABP News  

Budget 2021: Announcing proposals to restrict tax exemption for the interest income earned on the employees’ contribution to various provident funds for high-income employees, Finance Minister Nirmala Sitharaman in the Union Budget 2021-22 said the interest earned by the Provident Fund contributions above Rs 2.5 lakh a year will now be taxed at the normal rates. The Budget document read …

News18 Evening Digest: What Gets Costlier, Cheaper in Budget 2021, Tax-related Announcements and Other Top Stories
3 years, 10 months ago

News18 Evening Digest: What Gets Costlier, Cheaper in Budget 2021, Tax-related Announcements and Other Top Stories

News 18  

Budget 2021: What Gets Costlier, Cheaper; Check Full List Here Finance Minister Nirmala Sitharaman presented the Union Budget 2021-22 in Lok Sabha on Monday. However, Sitharaman’s budget did not bring any relief to the middle class as income tax slabs remain unchanged. Income Tax Slabs Unchanged, But Budget 2021 Has These 6 Tax Related Announcements Contrary to expectations of middle …

Union Budget 2021: Reintroduce single tax slab structure, raise minimum taxable income to Rs 7.5 lakh
3 years, 10 months ago

Union Budget 2021: Reintroduce single tax slab structure, raise minimum taxable income to Rs 7.5 lakh

Firstpost  

The pandemic and the subsequent Work From Home policy has led to some employers offering allowances and reimbursement to employees. Harsh Bhuta, Partner, Bhuta Shah and Co LLP The finance minister should consider the reintroduction of single tax slab structure and increase the minimum taxable income threshold from Rs 5 lakhs to 7.5 lakhs. Australia has come out with following …

Union Budget 2021: Taxpayers hope for lower income tax, deductions on medical treatment, incentives for WFH
3 years, 10 months ago

Union Budget 2021: Taxpayers hope for lower income tax, deductions on medical treatment, incentives for WFH

Firstpost  

The pandemic shook the economic base of our country escalating the normal expectations of the past year. It is worthwhile to note that the major impact of the pandemic is not only on the general public or different sectors but also on the government–funds released in the lockdown period to serve the nation have impacted the Treasury, and lesser earnings …

Budget 2021: MSME sector wants better access to credit, lenient taxation policies
3 years, 10 months ago

Budget 2021: MSME sector wants better access to credit, lenient taxation policies

India TV News  

The Union Budget 2021-22 is just a few days away from now and expectations are riding high from all sectors. They said that the Union Budget should provide some long-term benefits to the sector with better access to credit and lenient taxation policies. "To cope up with this, budget 2021 should focus on enabling the development of MSMEs by providing …

Union Budget 2021: Finance Ministry May Give Relief Up to Rs 80,000 in Total Tax Liability to Encourage Spending
3 years, 10 months ago

Union Budget 2021: Finance Ministry May Give Relief Up to Rs 80,000 in Total Tax Liability to Encourage Spending

News 18  

In order to put more money in the hands of the tax payer, the Finance Ministry is likely to provide tax relief of up to Rs 80,000 per annum in total tax liability. Sources informed CNBC-TV18 that on the basis of discussion during budget exercise there is strong possibility income tax payers may get relief between Rs 50,000 to Rs …

Budget 2021: ’Tax payers hope no new tax as Covid Cess is introduced’
3 years, 10 months ago

Budget 2021: ’Tax payers hope no new tax as Covid Cess is introduced’

Live Mint  

By Nimish Shah In light of the recession caused by Covid 19, the issue of growth versus fiscal discipline for framing the Budget 2021 will be the most debated one by the Government and Finance Ministry. While the next stop would be at around 5.2% for FY22, the trajectory and measures around it could shape the way fixed income and …

Budget 2021: Are you expecting big income tax relief this year? ’You will be disappointed’
3 years, 10 months ago

Budget 2021: Are you expecting big income tax relief this year? ’You will be disappointed’

Live Mint  

Finance minister Nirmala Sitharaman has promised a Union Budget like "never before" in 2021. In the view of rising inflation, the salaried Indian middle class taxpayers are expecting some relief from Union Budget 2021 amid COVID-19 pandemic. "The salaried class could be disappointed if it’s expecting for reduction in tax rates," said Divakar Vijayasarathy, founder & managing partner, DVS Advisors …

Budget 2021 Taxpayer Expectations: Know What A Common Man Is Eyeing In This Budget
3 years, 11 months ago

Budget 2021 Taxpayer Expectations: Know What A Common Man Is Eyeing In This Budget

ABP News  

Budget 2021 Taxpayer Expectations: With the common man bearing the brunt of Covid-19 in 2020, now all eyes are set on the annual budget to be presented by finance minister Nirmala Sitharaman on February 1, 2021. The current tax slabs are NIL for those earning between Rs 0-2,50,000: 5 percent for income between Rs 2.5-5 lakh Rs 5 lakh-Rs 7.5 …

Budget 2021: ’No major changes in tax structure, covid cess could be one off’
3 years, 11 months ago

Budget 2021: ’No major changes in tax structure, covid cess could be one off’

Live Mint  

After the year hit by the pandemic, all eyes are on Union Budget 2021, to be announced on February 1. Rahul Singh, CIO-Equities, Tata Mutual Fund believes, Government’s focus in the upcoming Budget is likely to be on providing acceleration to the economic recovery which has been underway over past few months. Government spending target will key and aided by …

The 2021 budget: The impact of coronavirus, news, views and reactions
4 years, 3 months ago

The 2021 budget: The impact of coronavirus, news, views and reactions

Dutch News  

The government published its 2021 spending plans on Tuesday. The king’s speech, in English Budget focus is on strengthening the economy, finance minister says The government’s 2021 spending plans are focused on keeping the economy strong now and into the future, despite coronavirus, finance minister Wopke Hoekstra told MPs on Tuesday afternoon. Criticism, optimism and wrong priorities: Mixed reactions to …

The 2021 budget: The impact of coronavirus, news, views and reactions
4 years, 3 months ago

The 2021 budget: The impact of coronavirus, news, views and reactions

Dutch News  

The government published its 2021 spending plans on Tuesday. The king’s speech, in English Budget focus is on strengthening the economy, finance minister says The government’s 2021 spending plans are focused on keeping the economy strong now and into the future, despite coronavirus, finance minister Wopke Hoekstra told MPs on Tuesday afternoon. Criticism, optimism and wrong priorities: Mixed reactions to …

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