Relief sought from Finance Minister Nirmala Sitharaman in the budget for middle class and small businessmen

Chamber of Trade and Industry Union Budget 2023: The Modi government at the Center is going to present the Union Budget 2023 on 1 February 2023 in the Parliament. The Chamber of Trade and Industry (CTI), a Delhi-based traders association, has written a letter to Union Finance Minister Nirmala Sitharaman regarding the general budget. Trade and Industry has written a letter demanding relief for the middle class and businessmen. Know what special demand has been made in the budget.

Relief kept for middle class and small businessmen

The Chamber of Trade and Industry (CTI) has written a letter to Finance Minister Nirmala Sitharaman as part of its pre-budget recommendations. Through the letter, CTI has demanded relief for middle class people and small businessmen. It has been said on behalf of the association that all sectors need relief from the government in the budget. Especially the middle class and 20 lakh traders of Delhi have not got any relief in the budget in the last 8 years. Everyone is hopeful that they will definitely get some relief from this budget.

Tax payers get benefit

On behalf of CTI, Brijesh Goel, President (CTI President, Brijesh Goel) says that tax payers of senior citizens should get old age benefits on the basis of their tax. Taxpayers should get social security and retirement benefits in their old age on the basis of income tax paid in previous years.

No increase in old limit

The association says that, for ease of doing business, it has been recommended to the Central Government to restore the old limit of cash payments. Goyal said that the cash transaction limit has not increased for 20 years. 6 years ago, to promote digital transactions, the cash payment limit was reduced from Rs 20,000 to Rs 10,000. He said that the limit of 20 thousand was running for 22 years. Under Section 40A of the Income Tax Act, cash payment to any person in excess of Rs 10,000 in a day shall not be allowed as deduction in computing income.

The budget will be presented on February 1

Union Finance Minister Nirmala Sitharaman will present the Union Budget 2023-24 on 1 February 2023 in Parliament. Like the last two Union Budgets, this time also the Union Budget will be paperless. The formal exercise of preparing the annual budget for the next financial year (2023-24) began on October 10.

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