Deepak Gupta | Feb 1, 2022 |

Budget 2022: Major Announcements for Taxpayers made in Budget

Finance Minister Nirmala Sitharaman is presenting her fourth Union Budget in Parliament in a paperless manner, like she did last year. Domestic and foreign investors, as well as other interest groups such as farmers, crypto investors, worried middle class and business organizations, as well as MPs, will be watching the Budget address closely.

The Sensex soared almost 900 points ahead of the Budget presentation.

No Major Relief Given to Taxpayers made in this Budget. Below are few Major Announcements for Taxpayers made in this Budget.

Taxpayers can file an updated return on payment of taxes within two years from the end of relevant assessment year.
The new provision will ensure voluntary tax filing and reduce litigation, says FM
30% tax on proceeds of virtual/digital assets with no deductions other than cost of acquisition
No set off permitted against other income
1% TDS to be levied on payments made on transfer of digital assets
Deduction for employer contribution to NPS increased to 14% from 10% earlier for State govt employees on par with central govt employees

StudyCafe Membership

Join StudyCafe Membership. For More details about Membership Click Join Membership Button

Join Membership

In case of any Doubt regarding Membership you can mail us at [email protected]

Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"

Tags: BUDGET, Budget 2022, Budget 2022-23, Taxpayer, Union Budget 2022, Union Budget 2022-23

Author Bio

Name: Deepak Gupta

Designation: Co Founder

Company: StudyCafe

Location: Delhi, India

Total Posts: 3423

CA Deepak Gupta,is Co-founder of Studycafe. He is Microsoft Office Specialist and Corporate Trainer of AI Tools, Microsoft Excel. He is Finance Influencer having more than 250K followers on Social Media. CA Deepak Gupta, is Having more than 14 plus years of experience, and he has Worked with best brands Like, Hero, Wipro, Ericsson before Starting Studycafe. He has Trained more than 20000 Persons in Microsoft Excel, PowerPoint, Power BI, Google Sheet, Google Forms and Other Tools.

My Recent Articles

UltraTech Cement slapped with Rs. 808.78 Cr Income Tax Demand GST: High Court upheld constitutional validity of Section 16(2)(c), asks government to address ITC issues of genuine purchasers Old vs New Tax Regime for Tax Year 2026-27 High court criticizes Income Tax Department for not releasing ITR Utilities despite 11 years of directions Fino Payments Bank CEO Rishi Gupta Gets Bail in GST Case, Bank Clarifies No Direct Link View All Posts