Business Standard

Union Budget 2022-23: Phasing out of some tax exemptions likely

FinMin also exploring the option of rationalising capital gains tax rates

direct taxes

In September 2019, Finance Minister Nirmala Sitharaman had announced new corporate tax rates

Arup Roychoudhury New Delhi
The Centre is considering a gradual phasing out of certain direct tax exemptions meant for corporate and personal tax payers. This is among the tax proposals being discussed for the upcoming Union Budget 2022-23.

A top policymaker told Business Standard that according to the government’s internal assessment, the percentage of corporates and individuals shifting to the new exemption-less tax regime has been very encouraging, and the Budget-makers expect many more to make the switch in the coming years. The person also said the finance ministry is exploring the option of rationalising the capital gains tax rates.

“We are very encouraged

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First Published: Jan 20 2022 | 6:03 AM IST

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