CLOSE X
Algo Trading
Home

Blogs

Stock Market Blogs

Budget Expectations in 2022 for Salaried employees January 12 2022Budget 2022

Visit Count: 593

Budget Expectations in 2022 for Salaried employees

Since the year 2020, the Covid-19 outbreak has wreaked havoc on salaried workers. Employers around the country have been compelled to ask their staff to work from home as a result of the spreading virus.

Employees had to spend more not just to protect themselves and their families from Covid-19, but also to cover a variety of other costs such as internet and phone bills, furniture to set up a home office, and increased electricity bills, among other things. Employees didn't have to worry about these costs before to the pandemic because the workplace provided all of their work-related necessities.

In view of the foregoing, salaried employees anticipate the government announcing a Work from Home Allowance in the 2022 Budget, which would provide tax relief on expenses incurred while working from home during the pandemic.

The government might learn from nations such as the United Kingdom, where paid employees who work from home receive a set rate of GBP 6 per week in tax relief for additional household expenditures.

Businesses have implemented work-from-home strategies as a result of the lockdown, according to the ICAI. “there are high possibilities that employees may not have the appropriate equipment at home to carry out official tasks, the employer provides the necessary equipment so that employees can complete their work swiftly and effectively."

Tax exemption should be offered, according to the ICAI, because providing of desk, chairs, and other set up at employees' homes in light of work from home could be taxable to the employees.

Standard Deduction of Rs 1 lakh

According to certain suggestions, the government should also increase the Standard Deduction limit under Section 16 of the Income Tax Act from Rs 50,000 to Rs 1 lakh.

Aside from employment taxes, the Standard Deduction can be used to deduct a range of expenses incurred during the course of employment. Employees must incur a range of expenses that they are unable to deduct during the course of their employment. According to the ICAI, a handful of the exclusions available to them under section 10 are subject to higher limitations that were set several years ago and are no longer applicable due to inflation.

Employees must pay several expenses over the course of their employment, including for skill upgrading and providing services as employees, according to the study, and the deduction for such charges must be expanded every year. To prevent revenue leakage, such a deduction might be tied to the cost inflation index, much as it is for income classed as capital gains, and the maximum amount may be set at Rs. 1,00,000.

"It is suggested that the standard deduction u/s 16 be increased to at least Rs. 1,00,000, taking inflation and salaried individuals' purchasing power into consideration, and that it be linked to the cost inflation index for regular enhancement in deduction amount, comparable to that available for income under the head capital gains." according to the ICAI.

COMMENTS
Form
Categories
Blog Enquiry

Prevent Unauthorized Transactions in your demat and trading account --> Update your Mobile Number/Email id with your Depository Participant and Stock Broker. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat/trading account directly from CDSL and Stock Exchanges on the same day.........issued in the interest of investors...

1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.

2. Update your Mobile Number & Email Id with your Stock Broker/ Depository Participant and receive OTP directly from Depository on your Email Id and/ or Mobile Number to create pledge.

3. Pay 20% upfront margin of the transaction value to trade in cash market segment.

4. Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued by NSE vide. Circular No. NSE/INSP/45191 dated: July 31, 2020 and NSE/INSP/45534 and BSE vide Notice No. 20200731-7, dated: July 31, 2020 and 20200831- 45 dated: August 31, 2020 and dated: August 31, 2020 and other guidelines issued from time to time in this regard.

5. Check your Securities/ MF/ Bonds in the Consolidated Account Statement issued by NSDL/ CDSL every month.

6. Risk disclosures RISK DISCLOSURES ON DERIVATIVES:

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost

Dear Investor,
As you are aware, under the rapidly evolving dynamics of financial markets, it is crucial for investors to remain updated and well-informed about various aspects of investing in securities market. In this connection, please find a link to the BSE Investor Protection Fund website where you will find some useful educative material in the form of text and videos, so as to become an informed investor.
https://www.bseipf.com/investors_education.html
We believe that an educated investor is a protected investor !!!

"As per the directives of CDSL and esteemed Exchanges, it has been made mandatory for every client to furnish their latest KYC details viz. Valid Mobile No., Email- Id & Income range on or before 31.05.2021 else your Account will be marked as Non Compliant and will be Freezed till the compliance of such requirement."
"No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."
Dear Investor if you wish to revoke your un-executed eDis mandate, please mail us with ISIN and quantity on dp@indiratrade.com by today EOD."
REGISTRATION NOS:

INDIRA SECURITIES PVT.LTD. (SEBI REG.NO.):NSE TMID: 12866, BSE TMID: 663, CDSL DPID: 17000 SEBI REG. NO.: INZ000188930, MCX TM ID: 56470, NCDEX TM ID: 01277, CDSL REG. NO.: IN-DP-90-2015, CIN : U67120MH1996PTC160201

DISCLAIMER:

"INVESTMENT IN SECURITIES MARKET ARE SUBJECT TO MARKET RISKS, READ ALL THE RELATED DOCUMENTS CAREFULLY BEFORE INVESTING."

INVESTORS GRIEVANCE

Indrendu Joshi. Email: compliance@indiratrade.com. Call : 0731-4797275

Investor grievance complaint : complaint@indiratrade.com

INVESTOR CHARTER