What to expect from Union Budget 2022

New Delhi, Feb 01: Union Finance Minister, Nirmala Sitharaman will today present her fourth budget.

This would be the second paperless budget due to the ongoing COVID-19 pandemic.

There are plenty of expectation from the Union Budget 2022. There is a demand to revise upward significantly the 80C education available up to Rs 15 lakh. Demands have also been made to make the optional concessionary tax regime more acceptable and raise the threshold Rs 15 lakh income for laying peal 30 per cent rate.

The Industry also wants a specialised regime for taxation of cryptocurrency. This is because crypto assets encompassing a wide array of digital asset like non fungible tokens, wrapped assets tokens will gain a lot of traction.

Further the corporates are expecting that a the entire amount of the expenditure incurred for helping the society and employees during COVID-19 will be allowed as deductible expenditure.