We are less than a week away from the Union Budget 2022, The finance minister Nirmala Sitharaman will present the Budget eraly next week. As the big day nears, expectations are high. Industry leaders across segments have their wishlist ready. Cryptocurrency companies are seeking clarity on taxation and regulation. The digital lending industry wants the government to announce measures to ease liquidity flow to NBFCs. Hardware industry in the country wants lowering of GST. Retail investors are looking for tax relief. TOI-Gadgets Now spoke to YouTuber Pranjal Kamra on his views and expectations from the coming Budget. Excerpts from the email interview:
What made you pick YouTube as a platform?
When I was just getting started with almost nothing in the name of capital. Youtube was the only thing I could do for free. A platform that was truly democratic and offered everything that I was looking for.
What is the support that you have been getting from Google?
YouTube and Google help us get insights and analytics as to what’s working and what’s not. This helps us evolve our content strategies. We have also participated in events and fests that YouTube has organized which has helped us improve our reach and monetization. And most importantly we get revenue support through ads.
What are your expectations from the coming Budget?
I hope government looks at bringing these changes:
* Securities Transaction Tax (STT) rate should be lowered.
* Long term capital gain (LTCG) tax should be abolished.
* The taxes paid on the dividend at the individual level should be lowered.
* 80C exemption limit should be increased from the existing Rs 150,000.
* Clarity on tax slab. Clarity such as the old tax slab regime will be effective for 2 to 3 years then taxpayers have to shift to a new tax regime or as such. The new tax slab came into effect to simplify the tax process, but the choice given to taxpayers of choosing between old and new regimes has created a lot of confusion.
Anything that you think FM can do and should do for retail investors?
In India, as retail investors, when we invest in stocks, we pay taxes on every level ie while buying, selling, earning profits, earning dividends and more. We pay STT, LTCG tax etc. So, the way the equity market of India is maturing, for a few years if investors get benefits such as lower taxes in this space a lot of growth can be attained.
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