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There should be a thrust on effecting amendments or providing clarifications on matters where there have been unwarranted and excessive litigation, including easing conditions for availing ITC and setting up GST tribunal.
Budget 2022 has introduced a new set of taxes on virtual digital assets like cryptocurrencies and non-fungible tokens (NFTs), but clarity is awaited on an aspect such as earlier income from VDAs, loss set-off and more
By capping the surcharge rate at 15%, the benefit of a lower surcharge rate gets extended to all classes of financial assets.
Narendra Modi’s government plans to launch an official digital currency and begin taxing profits on cryptos.
The salaried class has gone through several challenges in the past two years and the amounts expended towards healthcare, child education, cost of living have increased.