TAXOMART UPDATES OVER BUDGET

BUDGET 21-22

1.  Scrapping policy for 15yrs CV & 20 yrs perosnal
2.  7 mega TEXTILE parks within 3 yrs time
3.  Development financial Institute will start with 20k cr
4.  Railway will sale dead assets
5.  PSUs warehousing assets will be sold
6.  Capital expentidure for FY22-5.5Lk crs
7.  GAIL IOC HPCL Will sale pipeline assets 
8.  Health will get FY22-2.2 lk cr
9.  By next yr 8500km of ROAD project will be completed
10. 25k cr will be spent on WEST BENGAL highways 
11. Min of road transport n highway will get 1.18 lk cr
12. FY-22 Fiscal deficit estimate -6.8%
13. FY-21 Fiscal deficit- 9.5% Actual
14. Railway will get record 1.1 lk cr
15. Public buses will get 18k cr
16. City gas distribution new 100 disticts will be included
17. Security market code will be launched
18. GOLD Exchange will be regulated by SEBI
19. FDI in insurance- increase to 74% from 49%
20. FY-22 PSUs will get 20k cr
21. No restriction on OPC 
22. NCLT framework will be strenghten
23. Small cos PAID UP CAPITAL limit increased to 20Cr
24. Main PSUs divestment will take in FY 21-22 INCLUDING 2 public banks & 1 General insurance co
25. LIC IPO will be launched in FY-22
26. 1.75 lk cr is target of strategic PSU divestment
27. Rural infra fund will get 40k cr 
28. Margin money requirement reduced from 25% to 15%
29. 5 major fishing hubs would be developed in the country
30. MSME will get 15,700 Cr 
31. 100 new army schools will be build
32. National research foundation will get 50k cr
33. Digital payment will be provided with an incentive of 1500 cr
34. Estimated gross borrowing of govt for FY 22 would be 12 lk cr
35. FISCAL DEFICIT Target of 4.5 % of GDP BY FY25-26
36. Exemption for those above 75 yrs not to pay TAX having income from pension
37. E-ITAT will now come to forces
38. TAX AUDIT Limit increased from 5 cr to 10 cr for those making 95% transactions digitally
39. REIT,INVIT dividends are now out from TDS regime
40. Limit for reopening of IT Assessmemts reduced to 3 yrs from 6yrs
41. Details of capital gain from listed exchanges, bank interest PPF interest will come pre filled in ITR FORMS
42. Tax holiday period for start ups by 1 more year
43. Increased Start up investment capital gain exemption by 1 more year
44. New custom duty code will come in place from 01/10/2021
45. Reduced custom duty to alloy(steel/iron) to 7.5%
46. Mobile components custom duty increased to 2.5%
47. Copper custom duty reduced 2.5%
48. Rasionlising custom duty on gold n silver

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