No Major Relief Given to Taxpayers made in this Budget. Below are few Major Announcements for Taxpayers made in this Budget.

• Taxpayers can file an updated return on payment of taxes within two years from the end of relevant assessment year.
• The new provision will ensure voluntary tax filing and reduce litigation, says FM
  30% tax on proceeds of virtual/digital assets with no deductions other than cost of acquisition No set off permitted against other income.
• 1% TDS to be levied on payments made on transfer of digital assets
• Deduction for employer contribution to NPS increased to 14% from 10% earlier for State govt employees on par with central govt employees
• Reduced AMT rates for Co-operatives from 18.5% to 15%.
• Long-term capital gains on equities capped at 15%
• Reduced surcharge for Co-operatives with total income of 1cr to 10Cr. 12% to 7%
• Health and education cess not allowable as business expenditure u/s 37
• No set off of losses against undisclosed income detected during search
• Tax relief for persons with disability: Allow annuity payment to differently abled dependents when parents attaining age of 60 years