The Congress on Tuesday termed the Union Budget 2022-23 announced by Financial Minister Nirmala Sitharaman as a “betrayal of India’s salaried and middle class” population for not announcing any rebates in the income tax slabs.
“India’s Salaried Class & Middle Class were hoping for relief in times of pandemic, all round pay cuts and back breaking inflation. FM & PM have again deeply disappointed them in Direct Tax measures. This is a betrayal of India’s Salaries Class & Middle Class,” Congress spokesperson Randeep Surjewala tweeted.
While no changes were made in tax slabs, the government announced that updated income tax returns can now be filed within two years.
In another tweet, Surjewala termed the Budget as “kuch nahi Budget” (Nothing Budget) as he accused the Centre of leaving the pockets of poor, farmer, salaried class, middle class and small businesses empty.
The government also did not raise standard deduction, which was widely anticipated in view of elevated inflation levels and impact of the pandemic on the middle class. The standard deduction currently stands at Rs 50,000.
There was no change income tax slabs in the personal income tax category in the Budget unveiled on Tuesday. The corporate tax rate too was kept at the same level. However, concessional rate of 15 per cent has been extended by one year for newly incorporated manufacturing units.