Live Updates - Union Budget 2022 Discussion Thread

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https://twitter.com/Cryptic_Miind/status/148857...

Good Thread for budget.

PrasadU wrote:

nothing for Income tax payers????

nada

nothing for Income tax payers????

PM Speaking on budget - https://twitter.com/i/broadcasts/1YpKkZo...xj

Seinfeld wrote:

I will be the happiest person, if they don’t touch anything for income tax payers.

Removing the Old tax regime is high on cards. every year is like a bonus now (I guess corona had stopped them to do it last year).
And some more agri cess might be added to enhance the agricultural sector.

Also, whichever media you read.. believe me all are clickbait articles, they are just encashing advertisements on our article reads.

No expectations from the Government, this government has absolute majority, I can’t find any sense why they will give us some leeways. We are the only milkable cows left, rest protests.. we don’t/can’t.

Sunday Dada will thank us (all tax payers), Tue day Sita maiya will rip us.

No politics involved in my writing. Just another honest tax payer here. Feel free to write against me.. just come back post Tuesday and show your face here.

Literally She hasn’t touched income tax payers. I hope there’s no hidden clauses yet ..

If the tax system was a car, all FM has done so far is changed the colour of some nuts under hubcaps.

New Updated Return. IT dept says pay extra tax and file an updated return. If income has been missed out, say some crypto here or there, which they discover later because you link your wallet with aadhaar and boom it comes crashing down, you get an option okay.

Duty on umbrellas at 20%. You get rain, you gotta use the Indian made stuff. okay? Very important.

Import duty cuts have screwed up capital goods manufacturing in India. So: phase out concessional rates removed slowly and 7.5% import duty introduced.

azzuridd wrote:

Gross GST collection for January 2022 – Rs.1,40,986 crore – Highest since the inception of GST!

Someone gave her paper right now because tablet wasn’t updatable over the air

Budget has commenced. 

Blending of fuel priority of Government- Unblended fuel will attract additional excise duty at Rs.2 per litre from 1st Oct 2022.

To incentivise exports- duty on specified leather, packaging boxes reduced

More than 350 exemptions on some agri products, chemicals, drugs, etc to be phased out

Custom duty Reduced on Methanol acetic Acid,Heavy feestock for Petroleum refeinn

12:31 MSME- Duty on umbrellas raised to 20%, exemption to parts of these are withdrawn

ePassports will be rolled out in 2022-23 for convenience in overseas travel.

- Finance Minister.

#Budget2022
#AtmaNirbharBharatKaBudget

12:30 pm - Customs duty on imitation jewellery – Rs.400 per kg on its imports

Gems and jewellery - Customs duty on cut and polished diamonds and gemstones reduced to 5%

World-class university to be allowed in GIFT IFSC free from domestic regulation

Taxation of virtual digital assets at 30%, says FM #NirmalaSitharaman (@nsitharaman)

#UnionBudget2022 #Budget2022 #Cryptocurrency https://t.co/IT51...gT

Gross GST collection for January 2022 – Rs.1,40,986 crore – Highest since the inception of GST!

12:22 - FM moves on to talk about Indirect Taxes

for Businesses - brought forward losses cannot be set off against undisclosed income detected during the search and survey.

LTCG on surcharge on. any asset up to 15%