Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • PM Modi in Manipur
  • Charlie Kirk killer
  • Sushila Karki
  • IND vs PAK
  • India-US ties
  • New human organ
  • Downton Abbey: The Grand Finale Movie Review
fp-logo
Budget 2022: Centre may make new simplified personal IT regime more attractive for salaried
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Business
  • Budget 2022: Centre may make new simplified personal IT regime more attractive for salaried

Budget 2022: Centre may make new simplified personal IT regime more attractive for salaried

FP Staff • January 31, 2022, 13:05:27 IST
Whatsapp Facebook Twitter

The budget session of Parliament is set to commence on 31 January and will conclude on 8 April, the first half of the budget session will run from 31 January to 11 February

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Budget 2022: Centre may make new simplified personal IT regime more attractive for salaried

The government is aiming to make a new simplified personal income tax regime more attractive for the salaried class, sources told CNBCTV18.

According to a report by CNBCTV18, the government is considering tweaking a new tax regime to encourage taxpayer adoption. Also, it is expected to club standard deduction and interest against home loans, sources said.

“House rent and medical insurance premium may also be included under new tax regime. Finance minister  Nirmala Sitharaman is also expected to encourage taxpayers to shift to new direct tax scheme and give away other exemptions. Talks are even underway on more relief for individual taxpayers,” sources added.

As per ANI, Sitharaman held a pre-budget stakeholder consultation with Bharatiya Janata Party (BJP) state representatives belonging to different backgrounds and communities such as industries, professional, business, academicians, economists, women and tribal and backward classes.

Here are the proposals that are being considered as per CNBCTV18’s report_:_

  1. Hike in existing standard deduction limit
  2. Increase in window for medical insurance premium
  3. Simplification in capital gains tax rules

However, no final decision has been taken as of now. Direct tax proposals may get finalized after 20 January.

As per CNBCTV18, of over six crore taxpayers, four crore are below income bracket of Rs 5 lakh per annum where a rebate already exists. Budget 2022 will highlight the need for stable tax regime. It may even talk about landmark decision to settle retrospective tax cases.

Additionally, the government may look at launching a mediation window before tax demands are raised. Further, ease in tax compliance for exporters and industry is likely to be announced, CNBCTV18 said in a report.

Representatives from 25 states participated in the discussion held by Sitharaman, including northeastern states like Mizoram, Tripura and from Jharkhand, Chhattisgarh, Ladakh and southern states like Tamil Nadu, Kerala, Karnataka, and Telangana. States like Maharashtra, Gujarat, Madhya Pradesh, Rajasthan, Orissa were also amongst many more states from central and North India making effective pitch for the development of their regions.

Some prominent think tanks and Morcha presidents also presented their views and suggestions. Senior central party leaders conducted the proceedings from party headquarters. State party presidents from respective state party offices were also present in the hybrid mode. About 20 written submissions have been received, which will be compiled and submitted to the finance Minister, ANI said in a report.

The budget session of Parliament is set to commence on 31 January and will conclude on 8 April. The first half of the budget session will run from 31 January to 11 February. It will reassemble on 14 March to sit until 8 April, subject to government exigencies. The President will also address both Houses of Parliament assembled together on 11 am on 31 January, ANI said.

The government will present the Budget for the financial year 2022-23 on 1 February.

“The 256th Session of Rajya Sabha (Budget Session - 2022) is summoned to meet on Monday, 31 January, and subject to exigencies of Government Business, the Session may conclude on Friday, 8 April. During this period, Chairman may be moved to kindly adjourn the Rajya Sabha on Friday, February 11 to reassemble on Monday, 14 March to enable the Department-related Parliamentary Standing Committees to consider the ‘Demands for Grants relating to Ministries/Departments and prepare their reports,” a letter of Additional secretary-general of Ministry of Parliamentary Affairs Minister stated.

There will be no sitting on 18 March on account of Holi.

“The Union Budget for 2022-23 will be laid in the Rajya Sabha after its presentation in Lok Sabha on Tuesday, 1 February at 11.00 am,” the letter said.

_R_ecently more than 400 staff members of Parliament have tested positive for COVID-19. Consequently, the Chairman of Rajya Sabha and Speaker of Lok Sabha has reviewed the situation and given instructions to both houses to prepare a plan for the smooth functioning of both houses during the budget session of Parliament amid COVID -19 pandemic.

With inputs from agencies

Read all the Latest News , Trending News ,  Cricket News , Bollywood News ,  India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.

Tags
Railway Budget Budget Union Budget Rail budget Budget expectation Budget Live rail fares List of New trains Union Budget Live Income tax Calculator Indian Budget budget live streaming. income tax slab Budget news nirmala sitharaman budget budget 2022 23 budget 2022 Union Budget 2022 Agriculture sector 2022 Auto sector 2022 Electronics sector 2022 Housing and real estate 2022 Healthcare sector 2022 Personal finance sector 2022 Startup sector 2022 Taxes 2022 Banking and finance sector 2022 Stock market 2022 Insurance sector 2022 Infrastructure sector 2022 Education sector 2022 FMCG 2022 Budget news and updates 2022 Union Budget news 2022 Union Budget 2022 Budget Union Budget 2022 23 union budget 2022 date india budget 2022 date Indian Union budget 2022 union budget 2022 highlights union budget 2022 23 pdf budget 2022 date union budget 2022 pdf budget 2022 pdf highlights of budget 2022 defence budget 2022 budget updates 2022 budget 2022 highlights india budget 2022 tax slab live budget 2022 time budget time today budget 2022 live updates todays budget tax slabs in new budget budget 2022 live Budget 2022 Expectation Income Tax Slab 2022 23 income tax budget 2022 Railway Budget 2022 Rail Budget 2022 23 Consumer 2022 Infra 2022 Personal Finance 2022 Banking and Finance 2022 Stock Markets 2022 Life Insurance sector 2022
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai leads India in challan checks, with drivers checking their e-challans over 5 times a month on average. Helmet non-compliance is the most broken rule, accounting for 34.8% of all traffic offences in Chennai. Regular digital challan checks help drivers avoid hefty fines, promote safe driving, and improve insurance premiums.

More Impact Shorts

Top Stories

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV