Page 6 - Union Budget, 2022
P. 6
Union Budget, 2022
CONTENTS
GLOSSARY ......................................................................................................................................................................................... 5
RATES OF INCOME TAX ........................................................................................................................................................... 6
KEY STATISTICS ............................................................................................................................................................................ 7
ECONOMICs OF BUDGET, 2022 ............................................................................................................................................. 8
INSIGHTS FOR MSME, BANKING AND REAL ESTATE ........................................................................................... 9
DIRECT TAX PROPOSALS ...................................................................................................................................................... 10
Rationalisation and Clarification .................................................................................................................... 10
Ensuring Tax Levy and Reporting of Income ................................................................................................ 15
Explication of Provisions relating to Individuals and Trusts ......................................................................... 21
Incentivising Investment in Specific Sectors and Other Tax Concessions .................................................... 24
Simplifying Assessment Proceedings ............................................................................................................. 26
Relaxing and Stiffening of Procedural Compliances ...................................................................................... 31
THE INDIRECT TAX FRONT OF THE ECONOMY (GST) ..................................................................................... 32
RECEIPTS AND PAYMENTS OF THE CENTRAL GOVERNMENT ................................................................... 34
LEGENDS
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