As the date for the budget declaration comes close, everyone is keen to know how the new union budget for 2022 will impact their earnings, taxations and lives. Compared to everyone else, the common man or the middle class and the salaried employees look forward to getting benefits by increasing the tax slab, reducing the tax rates and increasing the income tax exemptions and deductions.
If you also have similar expectations, this video will help you get a detailed idea about Common Man’s Expectations From The Union Budget 2022 like;
1. Reduction in income tax rates.
2. Increase in Standard Deduction.
3. WFH allowance is expected.
4. Increasing the limit of 80C deductions.
5. Taxability of Cryptocurrencies – TDS provisions for cryptocurrency.
6. A deduction of “Society Maintenance Charges” should be allowed from computing income from house property.
7. Increase in current limit of home loan interest.
8. Removal of this LTCG tax on equities or the limit of ₹ 1lakh on tax-free gains limit should be increased.
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