Union Budget 2021: A thread on expectations🧐
Investments ≠ Savings 💸
Experts are hoping for an increase in the ₹1.5 Lakh tax deduction limit available under Section 80C of the Income Tax Act up to ₹3 Lakh
Encouraging taxpayers to invest more
Investments ≠ Savings 💸
Experts are hoping for an increase in the ₹1.5 Lakh tax deduction limit available under Section 80C of the Income Tax Act up to ₹3 Lakh
Encouraging taxpayers to invest more
A house is a security 🏠
Taxpayers expect HRA limit to match the tax exemption limit on the repayment of principal of a home loan
This would spur the demand for affordable housing and the real estate sector as a whole
Taxpayers expect HRA limit to match the tax exemption limit on the repayment of principal of a home loan
This would spur the demand for affordable housing and the real estate sector as a whole
Health is wealth 💊
Experts are also expecting a higher tax deduction limit under Section 80D for health insurance premium paid
This would aid deeper penetration of health insurance in the country and make people better-equipped to meet increasing healthcare expenses
Experts are also expecting a higher tax deduction limit under Section 80D for health insurance premium paid
This would aid deeper penetration of health insurance in the country and make people better-equipped to meet increasing healthcare expenses
Long and short term: About time⏲️
Since the current income tax policy doesn’t have a provision for long term investments such as life insurance and pension funds, experts are hoping that the gov. introduces separate exemption limits for the products in addition to Section 80C
Since the current income tax policy doesn’t have a provision for long term investments such as life insurance and pension funds, experts are hoping that the gov. introduces separate exemption limits for the products in addition to Section 80C
MSME bonanza 📊
Being among the worst hit, the MSME sector has high hopes from the upcoming Budget
First, they expect a hike in the limit of collateral-free loans available under the Credit Guarantee Fund. Next, they are wishing for a tax holiday of 1-2 yrs
Being among the worst hit, the MSME sector has high hopes from the upcoming Budget
First, they expect a hike in the limit of collateral-free loans available under the Credit Guarantee Fund. Next, they are wishing for a tax holiday of 1-2 yrs
Read more about other expectations here 👇 bit.ly/39idrpT
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