Union Budget 2022-23: Clarity on tax compliance needed, say experts

The last tweaks in the personal income tax rates came in the 2020-21 Union Budget, just before the pandemic

Finance Minister Nirmala Sitharaman should look at rationalising some tax provisions to ease the burden of compliance and regulation, experts said ahead of the Union Budget 2022-23, even as the expectation is that there won’t be any changes in the corporate or personal income tax rates.

On tax rates, the Centre believes any change could be counter-productive, given the continued uncertainty around Covid and its impact on household income and savings.

“We are definitely not expecting any big tax cuts on personal and corporate income tax. The expectation is for the Budget to rationalise some of the existing provisions. There