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Budget For The Salaried

Budget For The Salaried

Finance Minister Nirmala Sitharaman

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

Nov 28, 2020

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

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

Jan 13, 2021

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

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

Jan 20, 2021

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

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

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

Jan 22, 2021

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?

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

Jan 22, 2021

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

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

Budget 2021: Expectation for salaried persons in income tax slab

Jan 31, 2021

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

New income tax regime introduced in 2020 may see tweaks

Feb 01, 2021

While major changes in the income tax structure are unlikely, it is possible that the government may make some minor tweaks to provide relief

Budget 2021: Sitharaman announces direct tax proposals

Budget 2021: Interest on PF contribution above Rs 2.5 lakh to be taxed

Feb 01, 2021

Budget 2021: This will impact high-income salaried people using voluntary provident fund for tax-free interest. Individuals who contribute over Rs 20,833 a month to PF will be taxed

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

Budget 2021: 6 income tax changes taxpayers should know about

Feb 01, 2021

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

5 key expectations of taxpayers from FM Nirmala Sitharaman

Feb 01, 2021

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

The government is likely to increase the income tax exemption limit under Section 80C to Rs 2 lakh from Rs 1.5 lakh in the Budget 2021

Budget 2021: Will FM Sitharaman announce relief for salaried class, rationalise income tax?

Feb 01, 2021

It is widely expected that the government will leave the personal income tax slabs untouched since a new (tax) regime was already introduced in the financial year 2020-21