[sukhbirST]

Important point is inclusion of petroleum products in GST. At least CNG must be included, else sensing more sale of CNG, states will start milking this also. Already few have increased taxes on CNG.

[sunikkat]

Being a salaried class, all I expect is they do not remove the old regime. Last few years haven't seen anything beneficial for salaried. Any increase in tax slab ranges will indeed be a pleasant surprise.

[Satish Pari]

Frankly as a salaried tax payer, I have literally no expectations.

[SoumenD]

When the new regime was declared lot of experts claimed it will be the way forward and old regime will eventually be stopped. Hope that doesn’t happen. Even if it happens hope the slabs are tweaked a bit. Or at least do away with LTCG tax for god’s sake.

As a salaried employee I just wish to get some direct tax relief to start with. Direct+indirect tax is double whammy. But honestly our base is so small(3%?) that we don’t count as a votebank and hence government won’t bother about us

[vsrivatsa]

Lot of good suggestions mentioned on this thread but like the others I too, do not hope for much from the Government this year. Just hope they do not meddle with it and increase the burden on the tax payer.

Given the Work From Home scenario, there are recommendations to increase the Standard Deduction. I think that is the need of the hour but I don't believe it will happen.

Budget 2022: 'Raising standard deduction limit"

Other than the salaried, the Govt does not seem to show any mercy on the Senior Citizens also. Wish they give them some much needed reductions given that Interest Rates are so low.

[jkrishnakj]

I have no hopes from this finance ministry. The % of income tax paying population continues to be less than 2% despite the whole digital money/digital india initiatives. The ones who continue paying are the ones to bear additional burdens. I wish they just make the income tax structure a lot more simple and keep them flat as opposed to the current model of cess and everything else.

From an ‘auto’ point of view, I sincerely wish they remove that 4 metre rule for taxation.

[saket77]

I see some suggestions here indicating relaxation for LTCG. On the contrary, I’m just hoping that there are no nasty surprises regarding LTCG for stocks and mutual funds. The calculations and provisions for mutual funds LTCG is already complicated for a layman investor.

I don’t see standard deduction increasing for the salaried class as expenses like conveyance etc have been taken away due to work from home, balancing other expenses incurred for work from home.

[thenewsymbol]

Do away with surcharge on tax, its atrocious.

[Sran]

1. Remove LTCG tax. It will help in capital infusion and spending.
2. Mandatory income tax filing by everyone above age 21. Millions of Tea sellers, samosa, idli walas and vegetable vendors are earning more than 3-4000 rs/day.
3. Introduce state wise quota in central procurment of agriculture produce at MSP to stop inequality.
4. High time to end disparity and end stamp duty concession and lower interest rates on home loans to women.
5. Reduction of toll tax on NHAI.
6. As of now 75% of railways have been electrified, so bring new EMU trains with increased frequency and speed in high density states for safer travel.
7. Stop dynamic pricing in trains, it is predatory.
8. Introduce Vacuum toilets in trains and bring the curtain down for the disgusting bio toilets.
9. Concession on yachts and personal boats on a massive scale. It is a huge untapped industry which can give job to millions of people.

[techmotor]

An amendment on direct taxation policies beneficial to salaried employees will be a welcome move though it’s unlikely to happen considering the previous budgets. I hope they implement the following.

• Increase subsidy of EVs and also reduce the road tax and other registration fees.
• Tax benefits and other perks for companies engaged in design and manufacturing of various chips and other electronic technologies.
• Reduce LTCG tax on mutual funds and stocks.
• Regulate crypto currencies.

[headbanger]

Just give me one legal avenue where I don't get taxed. Even if I fail in that avenue , I will have a consolation that I tried.

The amount of taxes we pay and then see being misused are like rubbing salt on wounds. Just see the commentary around elections in Punjab. It seems everything is going to be free there.

[rapid_fire]

I really hope the government would extend tax / GST benefits on EVs to Plug-in Hybrids as well.

Also government should introduce unified road tax slabs applicable to all states. BH registration scheme now only limited to central / sate employees. It should be made available to all citizens.

[v1p3r]

Please, just don't make it worse.

Also, remove ESOPs' double taxation.

[raaj.bhalla]

Only if wishes were horses. So this is not an expectation.

Like how they are taking TCS upfront (5% instead of 1%), if no ITR filed for last two years, do the reverse. Why not refund a part of taxes that one pays as part of GST on everyday basis on purchase of goods and any services (at least essentials) if that person has filed ITR in previous year. Say 50%. Since this will be applicable for only 2% of the population, damage to treasury would not be that great and it will incentivize people to file ITR (pay tax). Refund can be adjusted when next year ITR is filed.


But I doubt that will happen even then system can be put in place.

[Theyota]

I hope the regime realizes that we have a massive jobs and earnings crises and it is a ticking time bomb. There is a huge section of society that is being left behind with no jobs or earnings growth. A single mediocre illness has capability of taking many families towards bankruptcy or debt traps.

The booming job market talk that we see in the IT folks thread with people bickering about their 5 million INR salaries covers only a small fraction of a percent. A major section of our society still earns the same salaries that they were earning a decade back. The whole of unorganized industry has not kept up with inflation. Of the two part time drivers my parents use, one of them is a part time lecturer and another one is a BCom graduate. One of them is from from weaker sections of our society and is eligible for all kinds of reservations and still has no decent job.

Without being political, my personal opinion is that the current regime has never had a professional finance minister from day one and has also ran away any financial/economic professional worth his dime. I cannot think of a single growth engine at the grass roots level. There is a lot of hype and propaganda with small things here and there.