The Union budget was presented on Wednesday by the Finance Minister finally laid to rest all the speculations around it. One of the ten themes of the budget was Tax Administration - honouring the honest. The FM in his speech acknowledged the expectations of the common man and keeping this in view, he has made several proposals to mobilise additional revenue and undertake rationalisation measures. However, one is not sure if the same has met all expectations as there willbe an increase in the tax liability for few sections of taxpayers.
Some of the key proposals affecting individual tax payers are analysed below:
The author is Director of EY India. AmmuSadanandhan, Senior Tax Professional at EY contributed to the article.
The views expressed in this article are personal to the author