The people of the country hoped that this time there will be a change in the tax slab or some relief will be given. But, this time there has been no change in the tax slab.
Union Finance Minister Nirmala Sitharaman has presented the Union Budget 2021-22. The people of the country hoped that this time there will be a change in the tax slab or some relief will be given. But, this time there has been no change in the tax slab. At the same time, the finance minister has also made some announcements about tax, which people are going to get direct benefits. Also, the finance minister says that the government has given many tax concessions before.
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The Finance Minister said that the government has given many tax concessions. Small taxpayers are exempted to reduce the tax burden. Several reforms have been proposed to make tax administration more easy. In such a situation, tell you what relief people have received regarding tax. Also know about those announcements which will directly benefit the people…
People aged 75 years will not have to fill ITR
The Finance Minister has announced that people above the age of 75 years are no longer required to file returns. Only those people whose income is only from pension can benefit from this system. Actually, now tax will be deducted in their income itself.
Dividend tax removed
The finance minister has kept the dividend out of TDS in the budget, which will benefit those who invested in the stock. The dividend tax incurred after investing in the stock is now exempt. With this, you will get tax money deducted from the company.
Benefit on home loan
The government has extended a rebate of Rs 1.5 lakh on home loan interest. If you take a home loan from this, you will continue to get up to one and a half lakh tax exemption on the interest of the home loan. If you buy a house, then you will get this facility on the loan you will take till March 2022. Due to this, people taking home loans get benefit in tax.
Ease of filling ITR
Now people are going to benefit in filling ITR. The Finance Minister said, ‘While filling ITR for the convenience of taxpayers, information about salary, income, tax payment, TDS comes pre-filled. Now it has been made even easier. After this, the details of capital gains from dividends, dividend income and interest received from bank-post office etc. will also be filled first. In such a situation, people will be able to pay taxes.
These people benefit
Till now people running small schools and hospitals have got exemption up to 1 crore turnover. Now it has been increased to Rs 5 crore. In such a situation, such people will be able to take advantage of it.
