Tax News Update    Email this document    Print this document  

April 6, 2022
2022-0557

Indian Fiscal Budget 2022 includes key tax proposals for individuals

The Finance Minister of India presented the Finance Bill for the tax year 2022-23 in the Indian Parliament on February 1. The bill (now Finance Act) has been passed by Parliament with a number of amendments and received assent by the President of India. These amendments are intended to address certain ambiguities arising from proposals contained in the bill. These changes apply for the Indian tax year 2022-23 (April 1, 2022 — March 31, 2023), unless specifically provided otherwise.

A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.

———————————————
ATTACHMENT

Full text of Tax Alert

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement