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Personal Finance

Personal Finance

Budget 2022 introduces taxation on cryptocurrencies.

Dear Indians, value of cryptocurrencies you hold is now down by 30 per cent as govt moves to take its cut

Feb 01, 2022

Finance Minister Nirmala SItharaman announced in Budget 2022 that income in cryptocurrencies will be taxed at 30 per cent. Here is all you need to know.

There was no change income tax slabs in the personal income tax category in the Budget unveiled on Tuesday.

No change in personal income tax rates in Budget 2022

Feb 01, 2022

The standard deduction currently stands at Rs 50,000.

Cryptocurrency exchanges including Wazir, CoinDCX, Zebpay have welcomed the tax announceemnts on virtual digital assets at 30%

Budget 2022: Crypto tax signals acceptance of virtual assets, say exchanges

Feb 01, 2022

While the legal experts have stated that the announcement made by the Union Finance minister, Nirmala Sitharaman of taxing keeping the taxation rate for virtual digital assets at 30 per cent will discourage crypto transactions, the industry players have welcomed the move.

FM Nirmala Sitharaman. (Photo: ANI)

ECLGS to be extended till March 2023, guarantee cover increased: FM in Budget 2022

Feb 01, 2022

Sitharaman also added that the total cover under scheme will now be Rs 5 lakh crore, with an additional amount earmarked for hospitality sector.

Union Budget 2022: FM Sitharaman/Photo Credit: Yasir Iqbal/India Today Group

Budget 2022: Updated income tax returns can be filed within 2 yrs of deadline

Feb 01, 2022

Budget 2022: Taxpayers can now file an updated return within 2 years of the filed IT return of an assessment year.

LTCG surcharge capped at 15%! Here's what experts want you to know

LTCG surcharge capped at 15%! Here's what experts want you to know

Feb 01, 2022

Finance Minister Nirmala Sitharaman presented the Union Budget 2022 on Tuesday. She announced that the surcharge on the long-term capital gains (LTCG) has been capped at 15 per cent.

The focus on climate-related initiatives in the budget signals the government's broadening commitment towards achieving net-zero carbon emissions by 2070.

Budget 2022 lacks major steps for enhancing revenue to off-set spending: Moody's

Feb 01, 2022

The budget underscores government’s previous emphasis on capex to sustain near-term recovery from the pandemic, while simultaneously paving the way for longer-term restructuring of the economy, Moody's stated.

Budget 2022: Key expectations of taxpayers

Budget 2022: Key expectations of taxpayers from FM Sitharaman

Jan 31, 2022

The taxpayer, in hopes of emerging out of the financial struggles, is expecting certain changes in the tax regime, elaborates Archit Gupta, founder and CEO of Clear.

Budget's proposals on taxation will be closely watched.

Budget 2022: What impact will it have on taxation and PF withdrawals?

Jan 27, 2022

This year proposals on taxation and PF withdrawals will have a huge impact on consumer sentiment and the economy as a whole, especially with rising inflation.

Personal Income-tax constitutes about 44% of the direct taxes collection in India and about 22% of the total tax (direct tax, GST etc.) collections for the government.

Union Budget 2022: Wishlist of individual taxpayers

Jan 19, 2022

While the ongoing pandemic has put pressure on the government, these measures may be considered on the personal tax front to provide some relief to the individual taxpayers.

PGIM India Mutual Fund Chief Executive Officer Ajit Menon has requested the government to ease the tax treatment for retirement benefit or pension schemes offered by mutual funds. 

Budget 2022: Govt should ease tax for mutual funds, says PGIM India MF CEO 

Jan 19, 2022

Retirement benefit or pension schemes of mutual funds qualify for tax benefits but each scheme needs to be notified by CBDT separately; blanket eligibility would ease compliance procedures.

Life insurance is a critical component in ensuring the nation's financial protection, noted Prashant Tripathy, MD & CEO, Max Life Insurance

Budget 2022: Insurance sector seeks additional deductions and lower GST

Jan 13, 2022

As the Budget day approaches on February 1, 2022, here are some of the pre-Budget expectations from the leading voices of the insurance sector.

Budget 2022 may extend some relief to the salaried class

Jan 13, 2022

With just about a fortnight to go for the upcoming Union Budget 2022-23, expectations among Indian taxpayers are rising with respect to some relief on taxes or a relief from the rising expenses amid high inflation and the impact of the pandemic. Will the government provide some relief to the salaried class? Sakshi Batra gets you what's on the wishlist.