Budget 2022: NO change in personal tax rates/slabs or increase in any exemption/deduction limits

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 850 points ahead of the Budget presentation and was eyeing on 59000 but later on Sensex plunge sharply and now its lower than 57800.

FM in her Speech not mentioned any change in personal tax rates for individuals or Corporates also in the Speech nowhere it was mentioned of slabs or increase in any exemption/deduction limits.

Taxpayers have high Expectations with regards to an Increase in Slab Skab Benefits and an Increase in Tax Deduction Limit of Section 80C. Also Many Taxpayers were Expecting some more relief in Section80D Considering Covid-19. As per budget Speech there is NO change in personal tax rates/slabs or increase in any exemption/deduction limits. One needs to Look into Finance Bill if there is anything mentioned there.