ET Online
Feb 1, 2022
Many desired a revision of the Rs 1.5 lakh cap to Rs 2.5 lakh in Budget 2022. Unfortunately, this aspect remain untouched.
Image Source: Getty Images
The current tax perks do not encourage people to get enough health insurance under Section 80D. Budget 2022 did not up the limit.
Image Source: Getty Images
Tax reductions and incentives for homebuyers, if they had been given, would only strengthen the real estate sector's fundamentals.
Image Source: Getty Images
In the home-office setup, many have faced booming in-house expenses. But the Budget provided no corresponding tax sop on such expenses.
Image Source: Getty Images
Given the current cost of inflation and living expenses, the amount of standard deduction is fairly low and was expected to be hiked.
Image Source: Getty Images
Since covid-19 has continued, as have travel restrictions, the LTC scheme announced last year was expected to be extended, but wasn't.
Image Source: Getty Images
Employees of state governments will now be able to claim a tax benefit of 14% on NPS contributions made by their employers from FY22-23 onwards.
Image Source: Getty Images
Transfer of virtual assets will be taxed at 30%. TDS will be imposed on payment for transfer of crypto assets at 1% over a certain threshold.
Image Source: Getty Images
Individual taxpayers will get more time to file updated ITRs if they have missed declaring income at the time of filing ITR.
Image Source: Getty Images
Personal finance highlights from Budget 2022
Image Source: AP
Thanks For Reading!