Glimpse

of budget
2021-22

Prepared by

Shahrukh Khan & Associates

(Bhilwara, Rajasthan, INDIA)
+91-97850-04518
 EXPERT PANEL

CA Shahrukh Khan 97850-04518

He is a practicing chartered accountant having office in

Bhilwara, Rajasthan. He has expertise in Income Tax/ GST/
Investment, stock market and other finance related matters.

CS Pushpendra Singh 95097-81737

He is a Company Secretary of a renowned Listed Company.

He has expertise in Corporate law, SEBI and legal matters of
listed companies.

*Source - Bugdet Speech of Finance Minister.

 BUDGET AT A GLANCE
CA Shahrukh Khan & Associates (97850-04518)

Budget Size 34.83 Lakh Crore

( in Lakh Crore)

BUDGET BREAKDOWN

20.50 Transfers Establishments and other Expenditure

10.12 Other Central Expenditure

06.09 Establishment Expenditure

04.29 Transfer to States

14.33 Transfers Establishments and other Expenditure

10.52 Central Sector Schemes

03.81 Centrally Sponsored Schemes

 STARTUPS
CA Shahrukh Khan & Associates (97850-04518)

NEW DEFINITION OF SMALL COMPANIES

Turnover Capital

Paid up
Turnover up
Capital up to
to 20 Cr.
2 Cr.

UPDATES

Launching
MCA
Version
3.0 Now NRI

E-Scrutiny,
E-Adjudication
and
Compliance
Now
canNRI can
Management
will
be
simplied Setup
SetupOneOne
Decriminalisation
of
LLP
Act,
2008
Tribunals
to
be
rationalised
Person
Person
Company
Company
Govt
will
launch
a
Securities
Markets

Code
in
a
bid
to
streamline
the
securities
market. (OPC)inin
(OPC)
Permanent
institutional
framework
for
Corporate India India
bond
market
Investor
charter
as
a
right
across
all
financial
products.
Amending
the
Insurance
Act,
1938
to
increase
the
FDI
limit
with
safeguards.
Asset
Reconstruction
Company
Limited
and
Asset
Management
Company
to
resolve
stressed
assets
problem
of
PSBs.
 FINANCIAL
CA Shahrukh Khan & Associates (97850-04518)

Reducing
time
limit
for
reopening
of
income
tax
assessment

from
6
years
to
3
years.

Exemption
from
filing
income
tax
returns
for
senior
citizens
(75
years
and
above)
who
only
have
pension
and
interest
income.
The
paying
bank
will
deduct
the
necessary
tax
on
their
income.

Additional
deduction
of
₹1.5
lakh
shall
be
available
for
loans
No change taken
up
till
31
March
2022
for
purchase
of
affordable
house
in income Pre
filling
of
returns
will
also
cover
capital
gains
from
listed
securities,
dividend
income,
etc.
tax slabs of Eligibility
for
claiming
tax
holiday
for
start
ups

proposed
to
individuals be
extended
byone
more
year


Constitution
of
a
Dispute
Resolution
Committee
for
small
in Union tax
payers
Budget Income
Tax
Appellate
Tribunal
to
be
made
faceless
2021-22 Govt
to
announce
a
policy
for
the
privatisation
of
some
state-run
Companies
&
Including
One
General
Insurance
and
PSU
and
Govt.
is
planning
to
come
up
with
an
IPO
of
LIC.
 EDUCATION
CA Shahrukh Khan & Associates (97850-04518)

More
than
15,000
schools
in
the
country
will
be
qualitatively
strengthened
to
include
all
components
of
the
National
Education
Policy.

100
new
Sainik
schools
is
announsed.

Revamped
Post
Matric
Scholarship
Scheme
for
welfare
of
SCs.

750
Eklavya
schools
in
tribal
areas

Realigning
National
Apprenticeship
Training
scheme
for
graduates
and
diploma
holders
in
Engineering

Partnership
with
UAE
and
Japan
in
area
of
skill
development
and
recognition

Finance
minister
proposed
to
set
up
a
Central
University
in
LEH.
 INFRASTRUCTURE
CA Shahrukh Khan & Associates (97850-04518)

NATIONAL RAIL PLAN

Aims at developing adequate rail infrastructure by 2030 to cater to the projected

traffic requirements up to 2050.

The objective is to increase the modal share of rail in freight from the current
level of 27 per cent to 45 per cent.

100% electrification of Broad Gauge Routes by 2023.

Indigenously developed automatic train protection system to be launched

Rs 1,10,055 Cr is allocated to Indian Railways which includes 1,07,100 for Capital

Expenditure.

TEXTILE PARK

MITRA scheme to create world class infrastructure for Global

Champions in Textile sector leading to creation of 7 Textile parks over
3 years.

Scheme of Mega Investment textile park will be launched in addition to

PLI scheme, 7 textiles parks to be unveiled over 3 years. Rs5 lakh Cr. will
be lent by DFI in 3 years time.

Recycling of Ships Act, 2019 enacted and recycling capacity to be doubled

by 2024

PPP mode to be utilised for managing operational services of major ports.

National monetisation pipeline of brownfield infra assets.

 HEALTH
CA Shahrukh Khan & Associates (97850-04518)

PM ATMANIRBHAR SWASTH BHARAT YOJANA

137% hike in health & wellness budget.

Finance Minister Nirmala Sitharaman announces Rs 2,23,846 crore

allocation for health, urban sanitation, water supply & air pollution
mitigation in Budget 2021.

₹35,000 CRORE FOR COVID-19 VACCINE IN 2021-22

Pnuemococcal vaccine to be rolled across the country.

Introduction of National Commission for Allied Healthcare

Professionals Bill

MAJOR ANNOUNCEMENTS FOR HEALTH AND CARE

Outlay ₹64,180 crore over 6 years

Supplementary Nutrition Programme and Poshan Abhiyan to be merged

and launched as Mission Poshan 2.0.

Establishing critical care hospital blocks.

Expanding integrated health information portal

Support for Health and Wellness centres

 RUPEE COMES IN
CA Shahrukh Khan & Associates (97850-04518)

Union Excise Duty

8%
Corporation Tax
13% Income Tax
14%

GST Non Tax Revenue

15% 6%

Customs
3%

Borrowings and other Liabilities

36%
 RUPEE GOES OUT
CA Shahrukh Khan & Associates (97850-04518)

Centrally Sponsored Schemes

9%
Central Sector Schemes
14% Finance Commission
10%

Defense
Other Expenditure
8%
10%

Subsidies
8%

Interest Payments
20% State's share of Taxes & Duties
16%
 CA SHAHRUKH KHAN &
ASSOCIATES

This document is prepared by CA SHAHRUKH KHAN & ASSOCIATES.

This material (including any information contained in it) is intended to

provide general information on a particular subject(s) and is not an

exhaustive treatment of such subject(s) or a substitute to obtaining

professional services or advice. This material may contain information

sourced from publicly available information or other third party

sources. CA SHAHRUKH KHAN & ASSOCIATES does not independently

verify any such sources and is not responsible for any loss whatsoever

caused due to reliance placed on information sourced from such

sources.

You should seek specific advice of the relevant professional(s) for

these kind of services. This material or information is not intended to

be relied upon as the sole basis for any decision which may affect you

or your business. Before making any decision or taking any action that

might affect your personal finances or business, you should consult a

qualified professional adviser. CA SHAHRUKH KHAN & ASSOCIATES

are not be responsible for any loss whatsoever sustained by any

person or entity by reason of access to, use of or reliance on, this

material.

© CA SHAHRUKH KHAN & ASSOCIATES

Email : Taxsolutionbhl@gmail.com

Phone : 91-97850-04518

Union Budget 2021-22