The Finance Minister has introduced the Finance Bill, 2022 in Lok Sabha today, that is 1st February, 2022. Changes in Customs, Central Excise, GST law and rates have been proposed through the Finance Bill, 2022.
Following amendments carried out in the Finance Bill, 2022, vide Clause 99 to 113, which will come into effect from a date to be notified, as far as possible, concurrently with the corresponding amendments to the similar GST Acts passed by the State(s) & Union territories with legislature.
The provisions of Finance Bill, 2022, relating to direct taxes seek to amend the Incometax Act, 1961 ('theIncometax Act'), to continue reforms in direct tax system through tax-incentives, removing difficulties faced by taxpayers
1. As per clause (iv) of section 28 of the Act, the value of any benefit or perquisite, whether convertible into money or not, arising from business or exercise..
Incentives to National Pension System (NPS) subscribers for state government employees
Finance Minister tabled union budget on 1st feb for Fiscal year 2022-2023 in just approx. 9000 words making it shortest budget speech.
01 February 2022 at 22:11
Income of any fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10 or any trust or institution registered u/s 12AA
Key Highlights on GST proposal Bill 2022
Amendments introduced in Customs Duty vide Union Budget 2022
Amendments introduced in Excise Duty vide Union Budget 2022
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