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Budget 2022

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‘Crypto tax’ is here. India imposes 30% tax on proceeds of digital assets

Union Budget 2022-23: Finance minister Nirmala Sitharaman on Tuesday announced a 30 per cent tax on the proceeds made on the transfer of virtual digital assets.
Law enforcement agencies are analysing data pertaining to business activities of cryptocurrency exchanges and investors in crypto assets. (File Photo)
Law enforcement agencies are analysing data pertaining to business activities of cryptocurrency exchanges and investors in crypto assets. (File Photo)
Updated on Feb 01, 2022 01:01 PM IST
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Written by Joydeep Bose, Hindustan Times, New Delhi

Budget 2022: Taxpayers can file updated return within 2 years from relevant AY

  • Budget 2022-23: Union finance minister Nirmala Sitharaman said that the time period for filing an updated return has been extended to provide taxpayers with an opportunity to correct the filing.
Union Budget 2022: The central government has proposed to reduce the alternate minimum tax for cooperatives from 18.5% to 15%.
Union Budget 2022: The central government has proposed to reduce the alternate minimum tax for cooperatives from 18.5% to 15%.
Published on Feb 01, 2022 12:19 PM IST
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Budget 2022: Govt proposals on income tax, corporate tax, NPS, digital assets 

  • Union budget 2022-23: The central government has proposed a new provision for permitting taxpayers to file an updated return on payment of additional tax.
No changes in the income tax rates and slab have been proposed by the government for Union Budget 2022-23.(REUTERS/File Photo)
No changes in the income tax rates and slab have been proposed by the government for Union Budget 2022-23.(REUTERS/File Photo)
Published on Feb 01, 2022 01:06 PM IST
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Budget 2022: In push for Aatmanirbhar defence, procurement budget raised to 68%

  • The decision aims to reduce the country's dependence on imports of defence equipment and have a more 'self-reliant' defence sector under the Aatmanirbhar Bharat initiative.
Sitharaman also announced that defence research and development (R&D) will be opened for industry, start-ups and academia.
Sitharaman also announced that defence research and development (R&D) will be opened for industry, start-ups and academia.
Updated on Feb 01, 2022 12:48 PM IST
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Written by Shivani Kumar | Edited by Amit Chaturvedi

Budget 2022: E-passports, LIC IPO and other highlights from Sitharaman's speech

Union Budget 2022: Finance minister Nirmala Sitharaman presented her fourth Budget on Tuesday. It focussed on laying the roadmap for the Indian economy for the next 25 years.
Union finance minister presenting the Union Budget 2022 in the Lok Sabha on Tuesday.(ANI Photo)
Union finance minister presenting the Union Budget 2022 in the Lok Sabha on Tuesday.(ANI Photo)
Published on Feb 01, 2022 11:49 AM IST
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By | Written by Amit Chaturvedi, Hindustan Times, New Delhi
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Budget Impact

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Cheaper
  • Clothes
  • Mobile phones
  • Frozen mussels
  • Frozen squids
  • Asafoetida
  • Cocoa beans
  • Methyl alcohol
  • Acetic acid
  • Steel scrap
  • Mobile phone chargers
  • Gemstones and diamonds
  • Camera lens for cellular mobile phones
  • Chemicals needed for petroleum products methanol
Costlier
  • Umbrella
  • Imitation Jewellery
  • Smart meters
  • Solar cells
  • Solar modules
  • X-ray machines
  • Unblended petrol and diesel
  • Headphones and earphones
  • Single or multiple loudspeakers
  • Parts of electronic toys
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Response to budget

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Rate the Budget

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Budget Trivia

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Stats

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More from budget

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‘Idea of Budget is to boost consumption’: DEA secretary Ajay Seth

The Budget has provided the clarity… All incomes are taxable, except those that are specifically exempted under the I-T Act, says Seth
Ajay Seth (HT Photo)
Ajay Seth (HT Photo)
Updated on Feb 03, 2022 01:57 AM IST
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ByRaajeev Jayaswal, Hindustan Times, New Delhi

Budget for a modern, self-reliant nation: PM Modi

Union Budget 2022-23 pumped up capital expenditure massively to spur growth, raising its outlay by a record 35.4% to 7.5 lakh crore. It has taken a classic economic mantra, according to which investments begets growth.
Prime Minister Narendra Modi. (PTI)
Prime Minister Narendra Modi. (PTI)
Updated on Feb 03, 2022 07:41 AM IST
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By, New Delhi

Next year's I-T return to have separate column for crypto income: Revenue secy

The 30 per cent plus applicable cesses and surcharge of 15 per cent on income above 50 lakh will have to be paid on income from cryptocurrencies, revenue secretary Tarun Bajaj said.
The launch of 'Digital Rupee' by RBI as well as a 30 per cent tax from April 1 on profits from digital asset transactions, including cryptocurrencies and non-fungible tokens (NFTs) was announced by finance minister Nirmala Sitharaman in her budget speech on Tuesday, February 1, 2022. (Getty Images/iStockphoto)
The launch of 'Digital Rupee' by RBI as well as a 30 per cent tax from April 1 on profits from digital asset transactions, including cryptocurrencies and non-fungible tokens (NFTs) was announced by finance minister Nirmala Sitharaman in her budget speech on Tuesday, February 1, 2022. (Getty Images/iStockphoto)
Published on Feb 02, 2022 06:23 PM IST
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PTI | , New Delhi

Reaching new heights: Modi hails India's ‘success story’ in post-Budget address

The Union Budget has been appreciated across multiple quarters, said the Prime Minister, adding that the policies are aimed at expanding the central government's vision in the last seven years.
Prime Minister Narendra Modi addresses Bharatiya Janata Party (BJP) workers on Wednesday, February 2, 2022. (Photo via @PBNS_India on Twitter)
Prime Minister Narendra Modi addresses Bharatiya Janata Party (BJP) workers on Wednesday, February 2, 2022. (Photo via @PBNS_India on Twitter)
Updated on Feb 02, 2022 12:17 PM IST
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Written by Joydeep Bose, Hindustan Times, New Delhi

Digital Banking units to come up in 75 districts by scheduled banks, says FM

To give a boost to the digital economy and as the country marks 75 years of its independence, it is proposed to set up 75 DBUs in 75 districts of the country by scheduled commercial banks, finance minister Nirmala Sitharaman said.
Digital Banking units to come up in 75 districts.(Representative image)
Digital Banking units to come up in 75 districts.(Representative image)
Published on Feb 02, 2022 07:47 AM IST
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By, Hindustan Times, New Delhi

CEA: India on track to becoming $5-trillion economy by FY26

Gross domestic product (GDP) in dollar terms has already crossed $3 trillion, he said during the finance minister’s post-Budget interaction with the press.
Chief Economic Adviser V Anantha Nageswaran.(Bloomberg)
Chief Economic Adviser V Anantha Nageswaran.(Bloomberg)
Published on Feb 02, 2022 07:40 AM IST
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ByMint Correspondent

RBI to launch a digital currency in FY23: Minister

The government also proposed to amend the RBI Act to include the central bank digital currency (CBDC) alongside traditional banknotes.
A central bank digital currency is the legal tender issued by it in a digital form.(Mint Archives)
A central bank digital currency is the legal tender issued by it in a digital form.(Mint Archives)
Published on Feb 02, 2022 07:38 AM IST
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ByShayan Ghosh

Telecom sector gets 5G boost; Centre to infuse 44k crore into BSNL

Experts said that continued emphasis on the importance of mobile connectivity and broadband for economic development, especially in rural India, will further boost telecom and associated sectors.
Experts said that continued emphasis on the importance of mobile connectivity and broadband for economic development, especially in rural India, will further boost telecom and associated sectors. (Livemint)
Experts said that continued emphasis on the importance of mobile connectivity and broadband for economic development, especially in rural India, will further boost telecom and associated sectors. (Livemint)
Published on Feb 02, 2022 07:32 AM IST
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By, Hindustan Times, New Delhi

Chip-based e-passports from 2022-23, says FM Sitharaman

Sanjay Bhattacharya, secretary, Ministry of External Affairs, had earlier said that India will soon introduce e-passports with secure biometric data, adding that it will be in line with the International Civil Aviation Organisation (ICAO) standards.
The e-passports will have embedded chips containing data related to the passport holder, like name, biometric data and other information, officials said.(ANI file photo)
The e-passports will have embedded chips containing data related to the passport holder, like name, biometric data and other information, officials said.(ANI file photo)
Published on Feb 02, 2022 07:25 AM IST
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By, Hindustan Times, New Delhi

Budget 2022: PM Modi's ‘Atmanirbhar Arthvyawastha’ address to BJP workers today

PM Modi hailed the Budget presented by finance minister Nirmala Sitharaman, calling it progressive and people friendly. He said that it is full of new possibilities of more infrastructure, more investment, more growth, and more jobs.
Prime Minister Narendra Modi's address will take place virtually.(HT File Photo)
Prime Minister Narendra Modi's address will take place virtually.(HT File Photo)
Published on Feb 02, 2022 06:55 AM IST
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By | Written by Amit Chaturvedi, Hindustan Times, New Delhi

‘This is a Budget for continuity’: Finance minister Nirmala Sitharaman

In an interview with Doordarshan, Union finance minister Nirmala Sitharaman talked about how the Budget will spur growth and create jobs.
Finance minister Nirmala Sitharaman. (PTI)
Finance minister Nirmala Sitharaman. (PTI)
Published on Feb 02, 2022 06:28 AM IST
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A growth-oriented Budget, capex push welcome: India Inc

The government’s focus on green and sustainable development coupled with its efforts on the ease of doing business front, were also welcomed by corporate India.
Union Budget 2022: Nirmala Sitharaman presenting Budget
Union Budget 2022: Nirmala Sitharaman presenting Budget
Updated on Feb 02, 2022 05:55 AM IST
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BySwaraj Singh Dhanjal

Market analysts back govt focus on growth, rue lack of direct stimulus

Analysts and investors cheered the government’s focus on growth but the lack of a direct stimulus to spur private consumption, low divestment targets (for FY22 and FY23) and higher borrowings left them worried in an environment of steep inflation of commodity and crude prices.
On Tuesday, the BSE Sensex was up 848.40 points or 1.46%, ending at 58,862.57, while the 50-share index Nifty gained 237 points or 1.37% at 17,576.85.
On Tuesday, the BSE Sensex was up 848.40 points or 1.46%, ending at 58,862.57, while the 50-share index Nifty gained 237 points or 1.37% at 17,576.85.
Published on Feb 02, 2022 05:49 AM IST
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ByNasrin Sultana, Hindustan Times, Mumbai

Union budget: Centre announces record borrowing plan of 14.95 lakh crore

On a net basis (less repayments), this borrowing will include 11.6 lakh crore from the market to bridge the predicted deficit in its 39.45 lakh crore annual budget.
“This budget continues to provide impetus for growth,” Sitharaman said in Parliament during her Budget speech.(Sanjeev Verma/HT PHOTO)
“This budget continues to provide impetus for growth,” Sitharaman said in Parliament during her Budget speech.(Sanjeev Verma/HT PHOTO)
Published on Feb 02, 2022 04:55 AM IST
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By, Hindustan Times, New Delhi

Railways gets 2.38 lakh crore, 400 new high-speed trains

The national transporter will also build upon the concept of “One Station, One Product” that will help develop efficient logistics for farmers, agri-enterprises and local businesses, finance minister Nirmala Sitharaman said.
The railways have been alloted <span class='webrupee'>₹</span>2.38 lakh crore for capital spending in 2022-23.
The railways have been alloted 2.38 lakh crore for capital spending in 2022-23.
Published on Feb 02, 2022 01:43 AM IST
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ByNeha Tripathi, Hindustan Times, New Delhi

Govt revises disinvestment estimate by 55.4% to 78,000 crore

In the current financial year, major disinvestments planned include IPO of LIC, Bharat Petroleum Corporation Ltd (BPCL), RINL and Pawan Hans. According to experts, a 10% IPO of LIC shares may raise over 1 lakh crore
Speaking to reporters after presenting the budget, finance minister Nirmala Sitharaman said that the government would continue the policy related to public sector enterprises as envisaged in the previous budget on February 1, 2021. (Bloomberg)
Speaking to reporters after presenting the budget, finance minister Nirmala Sitharaman said that the government would continue the policy related to public sector enterprises as envisaged in the previous budget on February 1, 2021. (Bloomberg)
Updated on Feb 02, 2022 04:52 AM IST
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Math of the economy: How to understand the Budget

Apart from growth assumption, tax buoyancy,petroleum prices and economic distress, there is another element which is key to understanding the budget’s mathematical basis--bond yield on long-term government securities
While the Budget has not made any explicit assumptions about petroleum prices, the Economic Survey has made its 8%-8.5% real growth projection assuming that crude prices will be in the range of $70-$75 per barrel. (Sanchit Khanna/HT PHOTO)
While the Budget has not made any explicit assumptions about petroleum prices, the Economic Survey has made its 8%-8.5% real growth projection assuming that crude prices will be in the range of $70-$75 per barrel. (Sanchit Khanna/HT PHOTO)
Updated on Feb 02, 2022 01:49 AM IST
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25,000 km highways to be built under fresh connectivity push

The announcement outlines the scope of a massive connectivity expansion the government has envisioned, announced broadly by Prime Minister Narendra Modi first on October 13.
The 25,000 kms of national highways will be built by mobilising <span class='webrupee'>₹</span>20,000 crore,(Sanjeev Verma/HT Photo)
The 25,000 kms of national highways will be built by mobilising 20,000 crore,(Sanjeev Verma/HT Photo)
Published on Feb 02, 2022 12:50 AM IST
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By, Hindustan Times, New Delhi
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