Insights

Union Budget 2021-Tax Highlights

The Union Budget was announced on 1st February 2021. Significant changes to the tax system, the finance minister announced the relaxation in income tax filing for the elderly under certain circumstances, new tax exemptions for NRIs, and a reduction in the time period of tax assessment among other measures.  

This report highlights such important tax-related changes in the 2021 Union Budget compiled by our Tax Team.