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Budget News

  • New Provision To Allow Taxpayers To File Updated ITR Within Two Years: FM
  • February 01,2022  14:20

  • The Union Finance & Corporate Affairs Minister Nirmala Sitharaman while presenting the Union Budget 2022-23 in the Parliament today proposed to permit taxpayers to file an updated return on payment of additional tax within two years from the end of the relevant assessment year. She said this would give taxpayers an opportunity to correct any omissions or mistakes in correctly estimating their income for tax payment. Besides, Sitharaman announced that the Government proposes to allow the payment of annuity and lump sum amount to the differently abled dependent during the lifetime of parents/guardians, on subscribers attaining the age of sixty years. The minister added that to enhance the social security benefits of the State government employees and bring them at par with the central government employees, the Government proposes to increase the tax deduction limit to 14 per cent from 10 per cent on employer's contribution to the NPS account of State Government employees. The minister also thanked the taxpayers of the country who have contributed immensely and strengthened the hands of the Government in helping their fellow citizens in the hour of need.

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ATTENTION INVESTORS
"1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.
 2. Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
 3. Pay minimum 20% upfront margin of the transaction value to trade in cash market segment.
 4. Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard.
 5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.
.......... Issued in the interest of Investors"
Prevent Unauthorized Transactions in your demat/trading account --> Update your Mobile Number/email ID with your stock broker/Depository Participant. Receive information of your transactions directly from Exchanges on your mobile/email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/CDSL on the same day. - Issued in the interest of investors.
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
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