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Union Budget Planning 2021: Tax measures For Public.

As we all know everything is depends on the budget, so that budget planning is very important. as we all know The financial year starts on April 1 completes on March 31. In this one year, need to make planning for everything. If you are a farmer, if you are a businessman, if you are a salaried person, irrespective of that, budget planning is very important in each field. How much money comes in and how much money goes out, everything needs to plan. Budget planning is not only helpful for the government. it is also for people. Following are some of the highlights of Union Budget 2021.

Union Budget Planning 2021: Tax measures For Public.

  • Nirmala Sitharaman( Finance Minister) is going to present the Union Budget 2021-2022 on February 1.
  • There are high expectations about the Budget.
  • Some tax measures will be announced by the Finance Minister (Nirmala Sitharaman) in the upcoming Budget.
  • This section will let you know about Union Budget Planning 2021: Tax measures For Public.
  • Union budget 2021 presentation on February 1, citizens of the country are expecting from the government, that provide some concessions on the tax.

Union Budget Planning 2021: Tax measures For Public

ax measures For Public

  • The government does not specifically mention that whether it plans to provide tax relief to citizens, but as the Finance Minister promised budget like never before.
  • Therefore expectations are high that government will keep its spending high in the 2021 budget
  • Also, a large portion of the budget will towards boosting the demand.
  • There are some chances that the government will extend the LTC(Leave Travel Concession) Cash Voucher scheme in the upcoming 2021 budget.
  • Direct Tax Task Force (DTTF) will set by the government to review the income tax rules.
  • The DTTF recommended an income tax slab of 10% on annual income up to 10lac and 20% on income up to 10 to 20lac.
  • And 30% on income up to 2lac to 2crore, and 35% on income over 2crore.
  • In the current income tax slab, 30% to all income over 10lac.
  • There is no confirmation, but the government may also raise the basic exemption from 2.5 to 5lac.

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