Budget 2022-23 - Quick Updates

[CS Swati Dodhi]

New Budget so far 

1. 2 lakhs crores additional help for MSMEs.
2. Public Issue of LIC is expected shortly.
3. Credit-Linked Guarantee Scheme extended till March 2023.
4. One class-one TV channel and 200 TV channels to provide education in all Regional languages.
5. A Digital University will be set up for higher education.
6. 80 Lakhs homes to be completed under PM Aawas Yojna.
7. Maximum Governance, minimum Government  - Doing business Easily 2.0 to be launched.
8. E-Passports introduction - Using embedded chip to be rolled out in 2022.
9. Green Clearance Portal scope to be expanded.

Direct Tax:

• Minimum Alternate Tax for cooperatives reduced to 15%
• Updated Return can be filed within 2 years from the end of relevant assessment year.
• Tax incentives for new start ups extended by 1 year.
• Corporate Tax reduced to 15% from 18%
• Long term capital gains to be taxed at 15 %
• 30% tax on vertical digital asset after deducting the cost of acquisition, no other deductions permitted