Budget 2022 has been announced in parliament after which there has been a lot of ups and downs, one major point that they offered is right now debated the most is of Crypto tax of 30% that’s huge in case but here we are talking about Top Highlights of Budget 2022 India in Tech Category that was presented in parliament for Budget session 22.
The budget of 2022-23 session is presented in parliament, although it has been majorly debated and still, nothing much is finalised on bills presentation but Crypto Tax has been a huge highlight, still, we are looking forward to the major highlighted announcements of Budget 2022 to see what we can expect in coming time, Welcome to Top Highlights of Budget 2022 India in Tech Category with FreshFounder.
List of Top Highlights of Budget 2022 India in Tech Category
Crypto will be Taxed and Regulated with 30% flat tax inclduing NFTs
The top most highlight of the new budget is the crypto tax that will be imposed and offered in parliament where Finance Minister Nirmala Sitharaman said that every profit over crypto in one financial year will be taxed with over 30% of the value of your total profit, whereas no losses will be setoff.
This means on Buying through exchange there is no tax on it but on Transactions like P2P, Conversion, Withdrawal will be taxed, Purchase of something through Crypto, Profit redeemed into account will be taxed, Gifting in blood relation & redeem is tax-free, no tax on holdings.
NOTE– Bill is still pending and RBI has opposed regulation of Crypto on Twitter so its not a hard line, also many petitions are going on Twitter to make it reduced but we have to see what final results come on the ground.
India to introduce its own Digital Currency as rupees into Blockchain
On one side where NFTs and Crypto is said to be taxed, they also proposed Indian rupees to be digitalized on Blockchain system where now you will be able to buy Rupee like USDT for transactions and that will be controlled & overlooked by RBI. Plan for this is measured in between 2022-23 for introductory purposes.
5G spectrum Auction 2022 and Rollout in 2023 India
Where 4G is not available properly in the entire nation, the budget has announced 5G rollout and auction spectrum in the proposal. They said that the 5G spectrum is under testing and auctions will be done in 2022 mid and rollouts in 2023, It is surprising people still search for bands and call over WiFi but that’s what it is.
E-passport to be introduced for faster processing
E-passport means electronic passport-like E-Wallet or Digilocker where your passport details will be saved with you through a barcode into your phone or will be linked through your ID. It will save time on airports for flight delays and make the process faster. This can be good step as you don’t have to carry a physical one with you and just some QRs or Email/Phone no. will be sufficient to crosscheck at terminals.
EV Battery swaping instead of stations for EV Cars
Like you might have watched in some videos where a man pulls out its dead battery and putin a charged battery into his 2-wheeler, that’s what they have planned for EVS, at stations or on the go you can contact Battery suppliers and they bring a charged battery, just replace your spare battery and keep moving.
This will be a faster process and will reduce the cost of station making or battery charge, but efficiency is still a doubtful factor here to be measured.
Drone Shakti Project for Farmers for better farming options
The government, after liberalizing the Drone Rules in 2021, has now announced a new project dubbed Drone Shakti in Budget 2022. Also, farmers will be provided with Kisaan Drones so that they can assess their lands and spray insecticides.
Pricing of these drones and how will they work, what will be the results or will it be done on a demand and service basis is to be discussed before finalisation, its just a projection more details have to come for now.
These were some big highlights from the Budget 2022 bill under the tech category, no Bill is passed till now so things are just in a dicy manner and speculated. In money purposes no other tax slabs are increased, Stock market is gaining, for now, not much effective or support to middle-class is provided. We try to keep you updated till then just subscribe to our Newsletter or Notify updates.