Union Budget 2021

[socrates]

Budget Phones to Cost More, More Cos to Sell Without Chargers: Union Budget 2021 Reactions

No chargers, then manufacturers have a new excuse to blame the customer by saying they used a faulty charger.

 

[mhsabir]

Apparently I missed this - Though I suppose it will only affect those who are with high income or push a lot of their basic income to Voluntary PF.

Interest on PF contribution above Rs 2.5 lakh to be taxable

The 2021 budget has also proposed to remove the tax exemption under Section 10(10d) to Ulips with a premium of more than Rs 2.5 lakh a year. This will not apply to existing Ulips, but only to policies sold after 1 February this year.

economictimes.indiatimes.com

 

[Navjot Singh]

Budget 2021: Sitharaman Cuts Education Allocation by Rs 6,088 Crore – The Wire Science

science.thewire.in

In an alarming display of negligence, the Union government has sharply slashed the budgetary allocation for education by Rs 6,088 crore. Curiously, Union finance minister Nirmala Sitharaman thought it fit this year to open more routes to privatise school education.

“PPE model in public schools would mean that NGOs would effectively run the schools. We all know which NGOs would land such contracts,” he added. He also pointed out that budgetary allocations for school education has come down to Rs 31,300 crore in 2021-2022 – from Rs 36,400 crore last year.

 

[Tejas01]

Union Budget: Agriculture Infra Cess Of Rs 2.5 On Petrol, Rs 4 On Diesel

A component to develop farm infrastructure has been added to the cost of petrol and diesel in the Union Budget presented by Finance Minister Nirmala Sitharaman today.An agriculture infrastructure and development cess of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel have been added in...

www.ndtv.com

So a permanent increase in petrol and diesel prices.. Imagine this on top of ever increasing prices of crude oil. Really a great time to get a new car and make a monument out of it.
Frankly, they could have taxed the super rich earning like 10-20 lakhs or above per month or those in higher slabs.

The worst part... Cess appropriated are not shared with the states. Agriculture is a State subject. So if states want to introduce any reforms in agriculture, they have to become bjp ruled States.

 

[Sudarshan61]

TLDR: It is just like any other budget. Smartphones and Fuel will get expensive as usual. Agriculture cess has been used as an excuse to raise prices of random products from textiles to food items. No tax relief. And lots of custom duties raised as usual.

Everyone relax. Nothing to be worried about.

No price change for fuel...gold and silver become cheap...invest some in gold for retirement

But now income tax department can re-open income tax returns older than 10yrs.

Nothing changed here..infact FM has made more strict to re-open returns till 10 years...
Also 6 years are reduced to 3...good step for lot of small tax payers..

 

[Navjot Singh]

Source

 

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