Covid pandemic at least made us realise that our healthcare sector is weak and the government to become conscious thereby announcing Centre sponsored scheme Prime Minister Atmanirbhar Swasthya Bharat Yojana with an outlay of Rs 64,180 crores to boost healthcare infrastructure across the country. Senior citizens’ above 75 years of age, having pension and interest income being exempted from filing tax returns is a welcome step. VTA’s pending demand is somewhat fulfilled by the Govt announcing Voluntary vehicle scrapping policy to phase out old and unfit vehicles. Admittedly the government hasn’t changed direct taxes, however took steps in direct tax incentives to ease compliance for taxpayers. The proposal to amend the definition of small companies under the Companies Act, 2013, whereby as per the new definition, small companies will mean a company that has paid-up share capital of not more than 2 crores from earlier 50 lakhs, along with raising the threshold of Annual Turnover from 2 crores to 20 crores is welcome step. Shrawan Kumar Malu President – Vidarbha Taxpayers Association (VTA)
The Taxpayers have earned Govt’s trust – Tejinder Singh Renu, Secretary – Vidarbha Taxpayers Association (VTA)
I am very much satisfied and happy with the budget announced. It seems the Government has realised much trust on the taxpayers, whereby few compliances have been withdrawn including reducing re-opening of assessment from previous 6 years to 3 years. Healthcare & vaccination are given due advantage with more allocation of funds. A healthier India is certainly a more productive India. Furthermore, we feared the introduction of a new Covid surcharge or likewise, however no change in tax slabs is much of a relief. Farmers & infrastructure also gets required importance, including Rs. 5976 Cr for Nagpur Metro’s Phase II. However the hospitality sector was expecting some relief being the most hit due to the ongoing pandemic, which unfortunately got missed. Aim of minimum government, maximum governance is really appreciable.