Big expectations from Union Budget
The announcement of the union budget is coming up soon.
As many already know, the budget has been preponed this year to be announced on February 1.
Big changes and policies are being expected in this year’s budget.
Many experts even say that there could be some tax benefits in order to help people get over the problems from demonetization.
Here are some of the biggest and best expectations from experts regarding this year’s union budget.
Income tax slabs
Changes in the income tax slabs are one of most-awaited and expected one. Many experts think that there will upward revision in the income tax slabs.
The move would be helpful for many common taxpayers.
At present, the income tax limit is ₹2.5 lakh. It is expected that the government would increase this limit to ₹4 lakh.
Promoting digital transactions
At present, using card payments seems to be attracting some kind of extra charge one way or another. After the demonetization, going cashless became mandatory.
So, it is expected that this budget would promote digital transactions.
This can be anything from a discount on card payments to a waiver of merchant discount rates when using debit cards at POS machines.
Changes in real estate
The real estate sector is being expected to see many changes. Real Estate Regulatory Act (RERA) and demonetization have done some damage to the sector.
Experts are expecting some relaxations in the income tax rate, hike in HRA deduction limit etc.
Housing loan
Housing loans are expected to be promoted. Many expect there to be tax benefits on housing loan interest.
Relief for farmers
Farmers faced a lot of problems after the demonetization.
They could not find enough cash to buy what they need.
So it is expected that farmers would get some additional benefits in the budget as a compensation for that.
Cashless transactions are likely to increase in rural areas as well.
Image by Gerd Altmann from Pixabay (Free for commercial use)
You may also like
Image Reference: https://pixabay.com/illustrations/hands-smartphone-rupee-india-money-1178785/
Recent Posts
- Harshil Kiran, a young prodigy’s photographic journeyHarshil's passion for photography began at the age of nine, during the Covid-19 pandemic.
- Flexible tax regime choices for salaried employeesFor TDS purposes, employees must declare their preferred tax regime to their employers once a year.
- Ditto Insurance opens doors to UPSC aspirantsDitto Insurance invites these former UPSC candidates to join their advisory team.
- Harshil Kiran, a young prodigy’s photographic journey
What’s new at WeRIndia.com
News from 700+ sources
-
Hanuman Mahotsav concludes in Demow
-
Bordoloi is a Sahab and eligible to participate from London: CM
-
Traffic police takes measures to control traffic snarls in Diphu
-
Woman found dead at in-laws residence, family alleges murder
-
I dont see any objection: Congress leader Rashid Alvi defends Manmohan Singhs 2006 remark
-
Two helicopters collide, 10 killed
-
WeRIndia – A News Aggregator
Visit werindia.com for all types of National | Business | World | Politics | Entertainment | Health related news and much more..
Leave a Reply