Union Finance Minister Nirmala Sitharaman presented the Union Budget for the year 2022-23 today. Keeping in view the interests of the common man, there is no special benefit in this budget.
The Finance Minister has not made any change in the income tax slab. That is, the way you have been paying tax on income till now, it will continue in the coming year also. On the other hand, a proposal has also been made under Income Tax that two years time is being given to improve the income tax return.
There is an atmosphere of summarily disappointment due to no relief to the common people in income tax in the budget. People had hoped that the middle class public would get some exemption in income tax. On the other hand, no relief has been provided in deduction also.
Over the years many people have invested in bitcoin and other types of cryptocurrencies. Now who has gained and who loses in those cryptocurrencies, it will be known only when the person concerned includes the above investment in his income statement. But according to the budget announcement of the Finance Minister, now 30% tax will have to be paid on the income from virtual assets. That is, it can be said that cryptocurrency has also come under the tax net.