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Income Tax Budget 2022 Live Updates: Finance Minister Nirmala Sitharaman will present Union Budget 2022-23 in Parliament today. Taxpayers are expecting the announcement of changes in Income Tax Slabs and Rates. Some experts believe that big bang tax relief may not be announced in Budget 2022.
However, Economic Survey 2021-22 tabled in the Parliament on Monday (January 31, 2022) raises hope for bigger tax reliefs for all types of taxpayers, including salaried individuals, senior citizens, NRIs and pensioners. The Economic Survey has listed several relief measures for taxpayers the Government has taken since the outbreak of Covid-19 pandemic (read details here). Now that the economy is looking set to grow fast, one can hope the Government will improve upon last year’s tax-related announcements.
Finance Minister Nirmala Sitharaman is also expected to announce rules for taxation of income from cryptocurrencies.
Stay tuned for Live Updates, Analysis and Explanation on Income Tax related announcements in Budget 2022
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