DAVIS THORNE

AND PARTNERS
Since 1999

2022 Report
 01 SENSEX 58,862
MARKETWATCH +1.46%
BROADER MARKET INDICES FOR THE BUDGET DAY
02 NIFTY 17,576
+1.37%
 GDP GROWTH
GDP FM emphasised GDP growth of 9.2%
highest of any lagre economy

GOSS GST
GROSS GST collection for january 2022 at
record Rs.1.41 trillion

FY23 capital expenditure set at 7.5 lakhs crores

up 35.4% YOY
DAVIS THORNE
This will be 2.9% of the total GDP
AND PARTNERS
Since 1999
 30%
virtual digital assets to be taxed

virtual digital assets to be taxed

at 30% with no provision to set
off against any other income

1% TDS on payment made on transfer of digital assets

The gifting of virtual digital assets is also to be taxed in the hands of recipient

india to launch its own digital curency using

blockchain technology
Key Points of 2022
1 3

No change in Rs 2 trillion
outlay for 75 digital banking systems in 75 districts by scheduled commercial
income tax slab
MSME's,additio banks
nal loan for
2 13mn MSME
8 million new houses in rural urban areas to be
Tax exemption
New provision completed under PM awas yojana
to startups to file updated
extended to IT return within
march of 2023 2 yrs of relavent
assesment year
BOOST IN EV SECTOR
Electric vehicle battery swapping policy to be bought out interoperability standards
and software that supports them

NO REDUCTION IMPORTED ELECTRIC VEHICLES

FM EMPASISED ON BOSSTING EV INFRASTRUCTRE

Allocation of 19,500 crores in solar

ev manufactring
SURCHARGE ON CORPORATE 50

TAX 40

30

REDUCED FROM 12% TO 7%

20

SURCHARGE ON TRANSFER OF LONG TERM CAPITAL GAINS

TAX CAPPED AT
10 15%

0
Item 1 Item 2 Item 3 Item 4 Item 5
 mobiles
clothing
umbrellas
Imitation jwellery
steel scrap
wearable meters imported
gifts
FINANCE
Initiatives from last years budget have been provided
adequate allocations in this budget

SEZ act to be replaced with new legislation

To amend bankruptcy code to speed up resolution process

energy transition and climate action will be a major govt policy

AGRICULTURE

duty reduced on shrimp aquacuture

domestic scheme introduced to reduce dependence on

oilseed imports

govt to invest in co investment model to finance

agriculture startups
TRANSPORT AND
INFRASTRUCTRE
NATIONAL HIGHWAY NETWORK TO BE EXPANDED BY 25,000 KM IN
2022/23
HIGHWAYS EXPANSTION TO COST 200 BILLION
RUPEES
5G SPECTRUM AUCTIONS TO BE CONDUCTED
480 BILLION TO B SET ASIDE FOR AFFORDABLE
HOUSING BY 2023
MIDDLE CLASS LEFT HIGH AND DRY

NO CHANGE IN INCOME TAX SLAB

A NEW PROVISION TO ALLOW TAXPAYERS TO FILE

UPDATED ITR

AN updated filing of ITR within 2yrs

DEFENCE SECTOR
some intresting facts
 DAVIS THORNE
AND PARTNERS
Since 1999

THANK YOU
BY KOUSTUBH G BCOM 1st sem