Nishika Jain

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Budget 2022 Highlights: Key takeways from FM’s Budget speech

Finance Minister Nirmala Sitharaman presented her fourth Budget today. This is Narendra Modi government’s tenth Budget, and the second paperless budget in view of the ongoing Covid-19 pandemic situation. India’s economic growth in FY22 to be at 9.2 per cent, highest among all large economies, said FM in her address. Read more at: https://taxguru.in/finance/budget-2022-highlights-key-takeways-fms-budget-speech.html

New Scheme of Taxation U/S 115BAC of Income Tax Act, 1961

Knowledge Bank / By Nishika Jain

A new scheme of taxation has been introduced by the Finance Act ,2020 by insertion of a new Section 115BAC. The basic feature of this new tax regime is lower tax rates as compared to existing slab rates but on the other hand the assessee has to forego around 70 exemptions and deductions presently available. Click here …

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