Finance Bill 2022 Hindi PDF Summary

Dear Readers, Here we all offer you Finance Bill 2022 PDF. The Financing Act has been proposed by the government for the new fiscal year, so if you would like to know more about this bill and also receive it in PDF format, this article will be helpful to you.

According to the government, for the assessment year beginning April 1, 2022, income tax is levied at the rates specified in Part I of the First Annex and is increased by a surcharge for the purposes of the Union, each time calculated in the manner provided for therein. .

Finance Bill 2022 PDF – INCOME TAX RATES

(1) Subject to the provisions of paragraphs (2) and (3), for the assessment year commencing on the 1st day of
In April 2022, income tax shall be levied at the rates specified in Part I of the First Annex and such tax shall be increased by a surcharge, for the purposes of the Union, calculated in each case as provided therein.

(2) In the cases to which Paragraph A of Part I of the First Annex applies, where the valuer has had in the previous year a net farm income of more than five thousand rupees in addition to the total income, and the total income more than two if lakh is fifty thousand rupees, then, –

• (a) the net farm income is taken into account in the manner provided for in point (b) [that is to say,
  as if the net agricultural income were comprised in the total income after the first two lakh fifty thousand rupees of the total income but without being liable to tax], only for levying income tax on total income; and
• b) the income tax due is calculated as follows:
  (i) the total income and the net farm income are added together and the amount of income tax is determined in respect of the aggregate income at the rates specified in said paragraph A as if that aggregate income were the aggregate income;
• (ii) the net farm income is increased by an amount of two lakh fifty thousand rupees, and the amount of income tax is determined in respect of the net farm income as increased at the rates specified in said Paragraph A if the net farm income as such has increased , the total income would be;
• (iii) the amount of income tax determined in accordance with sub-clause (i) is reduced by the amount of income tax determined in accordance with sub-clause (ii) and the amount so obtained is the income tax on total income :
• Provided that in the case of any individual who is a resident of India and who has attained the age of sixty years or more but less than eighty years at any time in the preceding year, referred to in point (II) of paragraph A of Part I of the First Schedule, the provisions of this subsection shall have effect as if for the words “two lakh fifty thousand rupees” the words “three lakh rupees” were replaced: Provided that in the case of any individual being a resident of India who at any time in the preceding year has attained the age of eighty years or more referred to in point (III) of Paragraph A of Part I of the First Annex, the provisions of this subsection shall have effect as if for the words “two lakh fifty thousand rupees”, the words “five lakh rupees” had been replaced.

You can download Finance Bill 2022 PDF by clicking the following download button.