Union Budget presented today is a big leap towards achieving promise by the Modi government of acche din for the taxpayers. Lowering tax rates by increasing threshold limits will benefit taxpayers to a large extent.
Likewise steps towards simplification of return is a welcome step. Classifying budget broadly into three themes made understanding budget allocations easy.
Promoting ‘Study in India’ is again a motivational and much needed move. Tourism is also given focused allocation of ₹2500 crores, however this area has much more scope.
Taxpayers should take advantage of ‘vivad se vishwas’ Amnesty Scheme proposed for pending litigation at any level. Faceless assessment and proposed appeals is appreciable steps. Shall eagerly await for proposed Taxpayers Charter, which should highlight taxpayers rights.
