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Budget 2022: Income tax deductions and benefits that the salaried expect
Budget 2022 is coming. Unfortunately, due to the recent surge in COVID cases in the country, taxpayers are increasingly expecting relief and deductions that should be offered to individuals. Some key expectations are mentioned below.
lower income tax rate
Currently, the top tax rate for individuals is 30%. Additionally, individuals can be taxed as high as 42.744% due to surcharge and education taxes, while the applicable rate for domestic corporations is only 25% (plus applicable surcharge and education taxes).
In light of the above, taxpayers are pleased to see the tax rate dropped from 30% to 25% for individuals earning more than Rs 10,000,000 (under the existing system) and individuals earning more than Rs 15,00,000 (under the new system). regime).
The rapidly increasing cost of living has led to increased expenses for children’s tuition, medical expenses, rent, etc. The following revisions will increase the disposable income of middle-income households and will also encourage them to invest:
- Increase the deduction limit under Section 80C of the Act to Rs 250,000 (from Rs 150,000).
- Increase the home loan deduction limit for owner-occupied properties from Rs 200,000 to Rs 250,000.
Complete News Source : Money Control
As Jennifer Lopez navigates her separation from Ben Affleck, she prioritizes her career, notably in the film Unstoppable.
Jennifer Lopez has “let go of her ego” to prioritise her career and personal growth as she navigates her separation from Ben Affleck.
The 55-year-old actress and singer, during an interview with Amazon/MGM, opened up about working on the upcoming film Unstoppable, a project she co-starred in while estranged from her husband.
“It was an honour to be a part of Anthony [Robles] and to play Judy,” Jennifer shared. “I approached the role with a complete lack of ego where you have to go in there and have so much respect for the person you are playing because it’s her story.”
“I disappeared, there was no Jennifer, no J. Lo. That person on the screen is just Judy. Luckily, I got to spend time with her and see who she was alone and as a mother.”
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Affleck praises Lopez’s ‘spectacular’ performance
Affleck and Matt Damon produced the film, which tells the inspiring story of 36-year-old wrestler Anthony Robles.
JLo portrays Judy Robles, Anthony’s mother. Affleck also highly praised Jennifer’s performance, calling her “spectacular.”
“Unstoppable is a very different movie than [Small Things Like These], but in a way it’s similarly rooted in the passion of really talented artists,” Ben told Entertainment Toninght just couple of weeks back. “Billy Goldenberg and Jennifer and Don Cheadle and Jharrel and Bobby Cannavale – all of whom were really passionate about this film.”
After reuniting and marrying in 2022, Jennifer filed for divorce in August 2024. Reports of marital struggles, including living separately, surfaced months before the filing.
“He’s focusing on his work and his kids now,” an insider told InTouch Weekly. “Ben already moved out … They’ll never stop loving each other, but she can’t control him, and he can’t change her.”
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Jennifer told Interview Magazine, “I was thinking about this time in my life, and I’m like, ‘That’s not what I thought it was going to turn out like.’ And then I thought, ‘No, this is exactly where I needed to be.’”
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