Union Budget 2023: All you need to know about tax incentives

Tax incentives. That's the holy-grail of any union budget. But can you count the cost?
Well, the government did the math and the numbers are unbelievable. In FY21, the total tax concessions stood at Rs 8.3 lakh crore! That's right. It's the revenue the government could have earned, but didn't. Thanks to exemptions and deductions. Here's another biggest shocker.
Which category gets the biggest the relief? Is it Corporate taxes or personal taxes? Surprisingly, neither. In fact, they don't even come closer to indirect taxes, when it comes to concessions.
Tax breaks on exports and customs duties tops the list at Rs 5.5 lakh crore. Now, that's more than the government spending on agriculture, education, and health combined.

Script and voice over- Sunitha Natti

#unionbudget #budget #tax #taxes

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