Why salaried class didn't get any tax relief in Budget 2022
India Today
Justifying the government's proposals in Budget 2022, FM Sitharaman said that having a stable tax regime was important at a time when the country's economy is recovering after being hit by the pandemic.
The salaried class grappling with rising living costs and uncertainty in the job market was hopeful that the Union Budget 2022 would provide much relief. However, Finance Minister Nirmala Sitharaman's fourth Union Budget neither tinkered with income tax slabs nor raised the standard deduction, which was widely expected in view of inflation levels and the impact of the Covid-19 pandemic on the middle class.
Justifying the government's proposals in Budget 2022, FM Sitharaman said that having a stable tax regime is important at a time when the country's economy is recovering after being hit by the pandemic.
TAX STABILITY, PREDICTABILITY
Terming the Union Budget 2022 a responsible one, FM Sitharaman said that "tax stability and predictability" are crucial as these factors ensure people's plans remain unaffected.
The government did not opt to increase the burden on taxpayers as it aimed to provide them with the ability to plan in a better way, FM Sitharaman was quoted as saying by News18.
PARITY BETWEEN TAX REGIMES
Revenue Secretary Tarun Bajaj said that the government would look into ways to bring parity between the new exemption and the old income tax regime for individual taxpayers.
