BUDGET 2021-22 Highlighted points
BUDGET 2021-22 BULLET POINTS 😊 11-6-2021 1- Self Assessment Scheme to be revived 2- Third-Party audit introduced 3- Automated based selection for audit 4- Income and expenditure-based tax system to be introduced 5- Information technology to be used for non-filers 6- No harassment by any official to taxpayers 7- Salaried person no new taxes 8- GST net to be increased and all wholesaler and retailer will be brought in a scheme 9- Prizes will be given to sales tax payees receipt owners 10- To introduce a simple tax return form 11- Sales tax and FED changes introduced 12- Small business turnover tax increased to 10 Million rupees having tax credits 13- Cars up to 850cc car FED abolished and sales tax decreased to 12.5% and VAT abolished. 14- IT services, zero-rated introduced 15- Locally Electronic cars sales tax decrease to 1%, VAT exempted, Fed exempted 16- Special Technology zones will be introduced and for their related imports will be exempted 17- Telecom --- FED exempted, Sales t