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
Premium

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

Don't miss the most important news and views of the day. Get them on our Telegram channel

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

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com