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Budget 2022 Expectations: Kovid patients and their families have great expectations from the upcoming budget, the Finance Minister can give big relief like this

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Budget 2022 Expectations: Kovid patients and their families have great expectations from the upcoming budget, the Finance Minister can give big relief like this

Budget 2022 Expectations: Due to the epidemic, many people lost their jobs and some people’s income declined, so common people are looking towards the Finance Minister with great expectations.

Budget 2022 Expectations: The countdown for the presentation of the budget for the next financial session 2022-23 has started and on February 1 next month, Union Finance Minister Nirmala Sitharaman can present the next budget. This will be his fourth budget. From the general budget to the special expectations are attached. This time too, since the budget will be presented in the shadow of the corona epidemic, it is expected that the Finance Minister may make some announcements for the corona patients and their families.

Due to the epidemic, many people lost their jobs and some people’s income declined, so common people are looking towards the Finance Minister with great expectations. Financial Express Online has talked to tax experts about what the Corona patients and their families are expecting from the Finance Minister in the upcoming budget and how they can be given relief.

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These are the expectations from Budget 2022

  • During the corona epidemic, many corona patients and their families got financial assistance from the central government, state governments, companies, friends and social workers, but many people had to fight this entire battle on their own. Regarding this, tax experts believe that the government can consider giving such people the benefit of deduction on the expenses incurred on the treatment of corona. Naveen Wadhwa, Deputy General Manager of Taxman, informed that the government had issued a press release on the date of June 25, 2021, under which the provision of income tax exemption on the help received from the company or any other person for the treatment of corona. was done.
  • Families of taxpayers who lost their lives due to Corona will get exemption without any limit on the financial assistance received from their company and if this financial assistance is received from any other person, then exemption will be available on a total of Rs 10 lakh. According to the press release issued by the central government, necessary legal amendments will be made for this but it has not been done yet. In such a situation, the Union Finance Minister can announce necessary amendments in the upcoming budget regarding this.
  • Senior citizens get deduction up to Rs 50,000 under section 80D of Income Tax. However, they get this benefit only if they are not covered under any health insurance. Wadhwa says that the Finance Minister should consider giving the benefit of deduction under section 80D to people of all ages, which they have spent on the treatment of themselves or any member of their family for corona infection.

(Article: Sanjeev Sinha)

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