Mangaluru: Although the general election is far from the salary class which is expected more than the union budget because of the Corona crisis, but has been disappointed because there is no relief that comes through direct tax.
While the industry has several points to cheer in the 2022-23 Union budget.
While rooms at Mangaluru welcome e-passport and unified logistics interfaces, Digital University and PM e-Vidya, as well as various business-friendly steps including an extension of the emergency credit line guarantee scheme, battery exchange policy.
However, no special scheme to revive the sector from the postemic situation.
MSME needs are immediately revived, “said KCCI President Shashidhar Pai Maroor.
Chartered Accountant CA Nitin J Shetty said that even though some trials concluded that the legal Crypto currency, now the government has found a way to prevent the general public to invest in Crypto.
“ We must appreciate that the government has not directly legalized Crypto by involving profits by 30% and also does not allow any deductions other than costs.
Losses from other businesses cannot depart with this income.
Even the Crypto gift will be taxed in the hands of the receiver with 30%, “he said.
He appreciates other provisions that provide an opportunity for assessors to voluntarily propose a new renewed return within two years from the end of the year of assessment if he has missed declaring certain income.
“ This will allow taxpayers to avoid a major penalty that can be collected by the IT department if there is avoidance, “he added.
Chartered Accountant Naveen Narayan has a different budget.
“ Although the overall budget looks good from a market perspective, the government can provide further encouragement to the housing sector by increasing the steps of tax benefits, “he said.
Aditya Mohan Jadhav, Finance Professor, Regional Seat – Accounting, Economics and Finance, TA Pai Management Institute (TAPMI), said the initiative for the higher education sector, mainly established a digital university and enabled world-class universities to offer programs in the gift cities are welcome.
“ We hope these initiatives are tagging of the educational sector that opens into world-class universities, “he noted but the ruped that the tax concession for salary classes, who had suffered a pandemic, no.
The Canara Plastic Manufacturer Association (CPMTA) shows that even though the Minister of Finance has announced that emergency credit lines have been extended until March 2023 for the MSME sector, there is also an announcement of the RS 6,000 Crore program to assess micro, small & medium.
The company (MSME) will be launched for the next five years.
However `but there is no specific scheme to revive this sector from the Post Pandemic situation,” said B a Nazeer, President Association added that the needs of MSMEs was immediately revived.
Suvarna Suvarna, a paid employee working in a private company, said he expected many soups for the middle class when they were hit hard by a pandemic.
“Love we are very disappointed with the budget,” he said.