budget 2022 latest update

 Modi govt can give good news to the working class in the budget on February 1, will get this exemption

In the new year's budget, the Modi government is likely to give a big relief to the working class. The government is now likely to levy more than Rs 5 lakh on PF instead of Rs 2.5 lakh.

The new budget will be of great benefit to the common man

Modi government will give big relief to the working class

The government will waive tax on amounts up to Rs 5 lakh in PF

Providers of provident funds can get big good news in the new budget 2022. In the next budget, the government may increase the limit of tax free provident fund to Rs 5 lakh. This big decision may be taken by the government in the new budget. So that the payer can get tax exemption on the amount up to Rs. 5 lakhs in a year i.e. he does not have to pay any tax.

Earlier the limit was up to 2.5 lakhs

Last year's budget also saw a major announcement by the government that the rule was implemented by waiving the rupee and taxes deposited in the PF. If one deposits Rs 2.5 lakh in a year, he does not have to pay tax. But if the tax is more than Rs 2.5 lakh, he has to pay tax.

No tax will be levied on amount up to Rs 5 lakh

However, his rule was later amended by the government to deposit Rs 5 lakh in the tax-free deposit category. However, this was exempted for such a fund. No amount is deposited by the company. If the employee deposits money voluntarily, he is not taxed.

The government is likely to make an official announcement in the new budget

At present, the tax-free limit of 2.5 lakhs has been increased to 5 lakhs which has benefited very few people. But now those who deposit maximum rupee in their General PF. The government can give great relief to those people. It is to be noted that no official announcement has been made by the government on this issue but it is quite possible that the government may make this announcement in the budget.

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