Here in this post, we are going to present the Budget 2022-23 PDF. Here in this post, you can collect all the details about Budget 2022-23 PDF also you can free download the pdf of Budget 2022-23 PDF without any cost. you can easily compare any other year’s budget with the help of that pdf link we are providing below.
The Union Budget is a very important part of any country. It is presented by the Union Finance Minister generally in February every year. On this page, you can read all that what is the budget and what the Union Budget 2022-23 talks about.
Budget 2022-23 PDF – Detailed Overview
In the case of indirect taxes, the Customs administration in the individual Economic Zones will be wholly ranktechnology-enabledd as per the Union Budget. It provides for the ongoing removal of concessional rates bandana all-purpose duty of 7.5 percent in capital goods and development imports. The plan envisages appraisal of traditional duty exemption and tariff overview and proposes to phase out over 350 exception entries.
Union Budget 2022-23
|1||Growth estimates||9.2 percent expansion in GDP in FY22|
|8−8.5 percent projected GDP growth for FY23|
|2||Deficit||The revised Fiscal Deficit in the current year is estimated at 6.9 percent of GDP.|
|The Fiscal Deficit in 2022-23 is estimated at 6.4percentt of GDP.|
|3||Capitalexpenditure||The outlay for capital expenditure has been stepped up sharply by 35.4percentt from Rs 5.54 lakh crore in the current year to Rs 7.50 lakh crore in 2022-23.|
|4||Repo rate||RBI kept the repo rate unchanged at 4 percent since May 2020; continues with an accommodative monetary policy stance.|
|5||FDI||Net FDI inflows amounted to US$ 24.7 billion for April−November 2021, 29.5 percent lower than those for April−November 2020.|
|6||Inflation||CPI averaged at 5.2 percent in April−December 2021, driven primarily by food inflation and high fuel prices.|
|7||Merchandise exports||Merchandise exports expanded by 49.7 percent to US$ 301.4 billion in April−December 2021, exceeding the pre-pandemic levels.|
India Budget 2023
|1||Income tax||No change to corporate or personal income tax rates|
|2||Revised Income Tax return policy||Taxpayers now have a two-year window to correct errors and file a revised income tax return for the relevant assessment year|
|3||Tax holiday||Tax holiday extended for start-ups incorporated up to 31 March 2023 and for new manufacturing companies commencing operations by 31 March 2024|
|4||surcharge or cess||Retrospective amendment to deny the deduction of any surcharge or cess paid on income and profits|
|5||Virtual digital assets (VDA):||Gains taxed at 30 percent; deduction allowed only for the cost of acquisition;|
|Benefit of set-off and carry forward of losses not available;|
|Deemed gift tax provisions to apply; tax deduction at source (TDS) at 1 percent introduced.|
|6||International Financial Services Centre (IFSC)||Income-tax exemption expanded to, inter alia, specified income of non-resident from lease of a ship to IFSC units;|
|Income of a nonresident from the transfer of specified derivative instruments|
|7||Concessional tax regime||Concessional tax regime on foreign-sourced dividends to be withdrawn from FY22|
|8||Alternate minimum tax||Cooperative societies pay 18.5% alternate minimum tax and companies pay 15%. From now on the cooperatives too will have to pay only 15%|
Here you can free download the Budget 2022-23 PDF by clicking the link given below.