Budget For The Salaried

Finance Minister Nirmala Sitharaman in her Budget Speech did announce some tweaks to the income tax rules

Updated : Feb 2, 2021

Budget 2021: 6 income tax changes taxpayers should know about

The time-limit for re-opening of assessment is being reduced to 3 years. Originally this was six years. Re-opening of assessment up to ten years will be allowed only if there is evidence of undisclosed income of  Rs 50 lakh (or more) for a year

Individual taxpayers too are eagerly awaiting FM Sitharaman to give them some respite, including tax benefits. Even small reliefs in Budget 2021 can go a long way in helping small taxpayers

Updated : Feb 1, 2021

Budget 2021: 5 key expectations of taxpayers from FM Nirmala Sitharaman

Experts are expecting tax relief under multiple heads in Budget 2021-22. This despite the Centre staring at a gaping hole on the revenue front in the current financial year due to the pandemic

There is also a demand to increase the limit of health insurance premium under section 80D, which is currently at Rs 25,000.

Updated : Jan 31, 2021

Budget 2021: Expectation for salaried persons in income tax slab

Union Budget 2021: Some of the experts have clearly stated that the government is unlikely to make any changes in the income tax slab, but some others have anticipated a relief under Section 80C and 80D

To beat Covid-19 impact, Centre had announced the Atma Nirbhar Bharat package worth Rs 20 lakh crore

Updated : Jan 22, 2021

Budget 2021: Can Sitharaman's budget fix unemployment issue?

Budget 2021: Economy suffered biggest shock after first lockdown in March when around 11.3 crore people lost jobs as entire economy went into shutdown mode

Budget 2021: Section 80C limit to increase?

Updated : Jan 22, 2021

Budget 2021 expectations: Govt may increase Section 80C limit to Rs 2 lakh

Budget 2021: Multiple associations and experts have opined that the Section 80C limit must be increased. However, most have suggested almost doubling the limit

Updated : Jan 20, 2021

FinMin invites public suggestions for Budget 2021; Here's how you can share ideas with govt

This is an effort by the government to make the Budget tabulation process more 'participatory and democratic by taking it closer to the people of India'

For FY22, it expects the Finance Ministry to target to get down the fiscal deficit to 5.2 per cent in the Budget

Updated : Jan 20, 2021

Budget 2021: Avoid new taxes, amp up 'honest attempts' to settle revenue litigations in FY21, says SBI

The amount under litigation includes Rs 4.05 lakh crore in corporation tax, Rs 3.97 lakh crore stuck in income tax cases and another Rs 1.54 lakh crore on account of commodities and services tax, the note said

Some other exemptions to the personal income tax may also be reworked to give a fillip to household savings as well as the real estate sector

Updated : Jan 20, 2021

BT EXCLUSIVE: 80C exemption likely to go up to Rs 2 lakh; Govt won't touch tax slabs

Given the skewed finances of the central government owing to the COVID-19 pandemic, there is no elbow room at all to provide any relief to the common taxpayer