diff --git a/README.md b/README.md
index c8ef4606b1404..24f0f66fcca8e 100644
--- a/README.md
+++ b/README.md
@@ -53,6 +53,7 @@ Use Airflow to author workflows as directed acyclic graphs (DAGs) of tasks. The
 - [Semantic versioning](#semantic-versioning)
 - [Version Life Cycle](#version-life-cycle)
 - [Support for Python and Kubernetes versions](#support-for-python-and-kubernetes-versions)
+- [Approach to dependencies of Airflow](#approach-to-dependencies-of-airflow)
 - [Contributing](#contributing)
 - [Who uses Apache Airflow?](#who-uses-apache-airflow)
 - [Who Maintains Apache Airflow?](#who-maintains-apache-airflow)
@@ -308,6 +309,54 @@ They are based on the official release schedule of Python and Kubernetes, nicely
 * Previous versions [require](https://github.com/apache/airflow/issues/8162) at least Python 3.5.3
   when using Python 3.
 
+## Approach to dependencies of Airflow
+
+Airflow has a lot of dependencies - direct and transitive, also Airflow is both - library and application,
+therefore our policies to dependencies has to include both - stability of installation of application,
+but also ability to install newer version of dependencies for those users who develop DAGs. We developed
+the approach where `constraints` are used to make sure airflow can be installed in a repeatable way, while
+we do not limit our users to upgrade most of the dependencies. As a result we decided not to upper-bound
+version of Airflow dependencies by default, unless we have good reasons to believe upper-bounding them is
+needed because of importance of the dependency as well as risk it involves to upgrade specific dependency.
+We also upper-bound the dependencies that we know cause problems.
+
+The constraint mechanism of ours takes care about finding and upgrading all the non-upper bound dependencies
+automatically (providing that all the tests pass). Our `main` build failures will indicate in case there
+are versions of dependencies that break our tests - indicating that we should either upper-bind them or
+that we should fix our code/tests to account for the upstream changes from those dependencies.
+
+Whenever we upper-bound such a dependency, we should always comment why we are doing it - i.e. we should have
+a good reason why dependency is upper-bound. And we should also mention what is the condition to remove the
+binding.
+
+### Approach for dependencies for Airflow Core
+
+Those `extras` and `providers` dependencies are maintained in `setup.cfg`.
+
+There are few dependencies that we decided are important enough to upper-bound them by default, as they are
+known to follow predictable versioning scheme, and we know that new versions of those are very likely to
+bring breaking changes. We commit to regularly review and attempt to upgrade to the newer versions of
+the dependencies as they are released, but this is manual process.
+
+The important dependencies are:
+
+* `SQLAlchemy`: upper-bound to specific MINOR version (SQLAlchemy is known to remove deprecations and
+   introduce breaking changes especially that support for different Databases varies and changes at
+   various speed (example: SQLAlchemy 1.4 broke MSSQL integration for Airflow)
+* `Alembic`: it is important to handle our migrations in predictable and performant way. It is developed
+   together with SQLAlchemy. Our experience with Alembic is that it very stable in MINOR version
+* `Flask`: We are using Flask as the back-bone of our web UI and API. We know major version of Flask
+   are very likely to introduce breaking changes across those so limiting it to MAJOR version makes sense
+* `werkzeug`: the library is known to cause problems in new versions. It is tightly coupled with Flask
+   libraries, and we should update them together
+
+### Approach for dependencies in Airflow Providers and extras
+
+Those `extras` and `providers` dependencies are maintained in `setup.py`.
+
+By default, we should not upper-bound dependencies for providers, however each provider's maintainer
+might decide to add additional limits (and justify them with comment)
+
 ## Contributing
 
 Want to help build Apache Airflow? Check out our [contributing documentation](https://github.com/apache/airflow/blob/main/CONTRIBUTING.rst).
diff --git a/setup.cfg b/setup.cfg
index 573c1ec3b1b25..bd6d97e8c0195 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -79,20 +79,30 @@ setup_requires =
 # DEPENDENCIES_EPOCH_NUMBER in the Dockerfile.ci
 #####################################################################################################
 install_requires =
+    # Alembic is important to handle our migrations in predictable and performant way. It is developed
+    # together with SQLAlchemy. Our experience with Alembic is that it very stable in minor version
     alembic>=1.5.1, <2.0
-    argcomplete>=1.10, <3.0
-    attrs>=20.0, <21.0
+    argcomplete>=1.10
+    # We limit the version of attrs to work with the old version of cattrs
+    attrs>=20.0,<21.0
     blinker
-    cached_property~=1.5;python_version<="3.7"
+    cached_property>=1.5.0;python_version<="3.7"
+    # Cattrs upgrades were known to break lineage https://github.com/apache/airflow/issues/16172
+    # TODO: Cattrs is now at 3.8 version so we should attempt to upgrade cattrs soon.
     cattrs~=1.1, !=1.7.*
-    colorlog>=4.0.2, <7.0
+    colorlog>=4.0.2
     connexion[swagger-ui,flask]>=2.10.0
     cron-descriptor>=1.2.24
     croniter>=0.3.17
     cryptography>=0.9.3
     deprecated>=1.2.13
-    dill>=0.2.2, <0.4
+    dill>=0.2.2
+    # Flask and all related libraries are limited to below 2.0.0 because we expect it to introduce
+    # Serious breaking changes. Flask 2.0 has been introduced in May 2021 and 2.0.2 version is available
+    # now (Feb 2022): TODO: we should attempt to migrate to Flask 2 and all below flask libraries soon.
     flask>=1.1.0, <2.0
+    # FlaskAppBuilder is very tight integration for UI but we are likely to remove it as a dependency soon
+    # TODO: Remove it when we are ready
     flask-appbuilder~=3.4, <4.0.0
     flask-caching>=1.5.0, <2.0.0
     flask-login>=0.3, <0.5
@@ -101,44 +111,52 @@ install_requires =
     gunicorn>=20.1.0
     httpx
     importlib_metadata>=1.7;python_version<"3.9"
-    importlib_resources~=5.2;python_version<"3.9"
-    # Logging is broken with itsdangerous > 2
+    importlib_resources>=5.2;python_version<"3.9"
+    # Logging is broken with itsdangerous > 2 - likely due to changed serializing support
+    # https://itsdangerous.palletsprojects.com/en/2.0.x/changes/#version-2-0-0
+    # itsdangerous 2 has been released in May 2020
+    # TODO: we should attempt to upgrade to line 2 of itsdangerous
     itsdangerous>=1.1.0, <2.0
     # Jinja2 3.1 will remove the 'autoescape' and 'with' extensions, which would
     # break Flask 1.x, so we limit this for future compatibility. Remove this
     # when bumping Flask to >=2.
     jinja2>=2.10.1,<3.1
+    # We are using JSONSchema 3 for unknown reason
+    # TODO: we should attempt to remove the upper binding of JSONSchema
     jsonschema~=3.0
     lazy-object-proxy
     lockfile>=0.12.2
-    markdown~=3.0
+    markdown>=3.0
     markupsafe>=1.1.1
     marshmallow-oneofschema>=2.0.1
     packaging>=14.0
-    pendulum~=2.0
-    pep562~=1.0;python_version<"3.7"
-    pluggy~=1.0
-    psutil>=4.2.0, <6.0.0
-    pygments>=2.0.1, <3.0
+    pendulum>=2.0
+    pep562>=1.0;python_version<"3.7"
+    pluggy>=1.0
+    psutil>=4.2.0
+    pygments>=2.0.1
     # python daemon crashes with 'socket operation on non-socket' for python 3.8+ in version < 2.2.4
     # https://pagure.io/python-daemon/issue/34
     python-daemon>=2.2.4
-    python-dateutil>=2.3, <3
-    python-nvd3~=0.15.0
-    python-slugify~=5.0
+    python-dateutil>=2.3
+    python-nvd3>=0.15.0
+    python-slugify>=5.0
     rich>=9.2.0
-    setproctitle>=1.1.8, <2
+    setproctitle>=1.1.8
     # SQL Alchemy 1.4.10 introduces a bug where for PyODBC driver UTCDateTime fields get wrongly converted
     # as string and fail to be converted back to datetime. It was supposed to be fixed in
     # https://github.com/sqlalchemy/sqlalchemy/issues/6366 (released in 1.4.12) but apparently our case
     # is different. Opened https://github.com/sqlalchemy/sqlalchemy/issues/7660 to track it
     sqlalchemy>=1.3.18,<1.4.10
-    sqlalchemy_jsonfield~=1.0
-    tabulate>=0.7.5, <0.9
+    sqlalchemy_jsonfield>=1.0
+    tabulate>=0.7.5
     tenacity>=6.2.0
     termcolor>=1.1.0
     typing-extensions>=3.7.4;python_version<"3.8"
     unicodecsv>=0.14.1
+    # Werkzeug is known to cause breaking changes and it is very closely tied with FlaskAppBuilder and other
+    # Flask dependencies and the limit to 1.* line should be reviewed when we upgrade Flask and remove
+    # FlaskAppBuilder.
     werkzeug~=1.0, >=1.0.1
 
 [options.packages.find]
diff --git a/setup.py b/setup.py
index b4d5709b452ae..27ca2f09b9f8e 100644
--- a/setup.py
+++ b/setup.py
@@ -182,6 +182,7 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
 # We limit Pandas to <1.4 because Pandas 1.4 requires SQLAlchemy 1.4 which
 # We should remove the limits as soon as Flask App Builder releases version 3.4.4
 # Release candidate is there: https://pypi.org/project/Flask-AppBuilder/3.4.4rc1/
+# TODO: remove it when we fix all SQLAlchemy 1.4 problems
 pandas_requirement = 'pandas>=0.17.1, <1.4'
 
 # 'Start dependencies group' and 'Start dependencies group' are mark for ./scripts/ci/check_order_setup.py
@@ -191,11 +192,15 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'oss2>=2.14.0',
 ]
 amazon = [
-    'boto3>=1.15.0,<2.0.0',
+    'boto3>=1.15.0',
+    # watchtower 3 has been released end Jan and introduced breaking change across the board that might
+    # change logging behaviour:
+    # https://github.com/kislyuk/watchtower/blob/develop/Changes.rst#changes-for-v300-2022-01-26
+    # TODO: update to watchtower >3
     'watchtower~=2.0.1',
     'jsonpath_ng>=1.5.3',
-    'redshift_connector~=2.0.888',
-    'sqlalchemy_redshift~=0.8.6',
+    'redshift_connector>=2.0.888',
+    'sqlalchemy_redshift>=0.8.6',
     pandas_requirement,
 ]
 apache_beam = [
@@ -203,7 +208,7 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
 ]
 asana = ['asana>=0.10']
 async_packages = [
-    'eventlet>= 0.9.7',
+    'eventlet>=0.9.7',
     'gevent>=0.13',
     'greenlet>=0.4.9',
 ]
@@ -212,11 +217,13 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
 ]
 azure = [
     'azure-batch>=8.0.0',
-    'azure-cosmos>=4.0.0,<5',
+    'azure-cosmos>=4.0.0',
     'azure-datalake-store>=0.0.45',
     'azure-identity>=1.3.1',
     'azure-keyvault>=4.1.0',
     'azure-kusto-data>=0.0.43,<0.1',
+    # Azure integration uses old librarires and the limits below reflect that
+    # TODO: upgrade to newer versions of all the below libraries
     'azure-mgmt-containerinstance>=1.5.0,<2.0',
     'azure-mgmt-datafactory>=1.0.0,<2.0',
     'azure-mgmt-datalake-store>=0.5.0',
@@ -227,11 +234,11 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'azure-storage-file>=2.1.0',
 ]
 cassandra = [
-    'cassandra-driver>=3.13.0,<4',
+    'cassandra-driver>=3.13.0',
 ]
 celery = [
     'celery>=5.2.3',
-    'flower~=1.0.0',
+    'flower>=1.0.0',
 ]
 cgroups = [
     'cgroupspy>=0.1.4',
@@ -240,12 +247,15 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'cloudant>=2.0',
 ]
 dask = [
+    # Dask support is limited, we need Dask team to upgrade support for dask if we were to continue
+    # Supporting it in the future
+    # TODO: upgrade libraries used or maybe deprecate and drop DASK support
     'cloudpickle>=1.4.1, <1.5.0',
     'dask>=2.9.0, <2021.6.1',  # dask 2021.6.1 does not work with `distributed`
     'distributed>=2.11.1, <2.20',
 ]
 databricks = [
-    'requests>=2.26.0, <3',
+    'requests>=2.26.0',
 ]
 datadog = [
     'datadog>=0.14.0',
@@ -254,20 +264,20 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'requests>=2.26.0',
 ]
 doc = [
-    'click>=7.1,<9',
-    'sphinx>=4.4.0, <5.0.0',
+    'click>=7.1',
+    'sphinx>=4.4.0',
     # Without this, Sphinx goes in to a _very_ large backtrack on Python 3.7,
     # even though Sphinx 4.4.0 has this but with python_version<3.10.
     'importlib-metadata>=4.4; python_version < "3.8"',
     'sphinx-airflow-theme',
     'sphinx-argparse>=0.1.13',
-    'sphinx-autoapi~=1.8.0',
+    'sphinx-autoapi>=1.8.0',
     'sphinx-copybutton',
-    'sphinx-jinja~=1.1',
+    'sphinx-jinja>=1.1',
     'sphinx-rtd-theme>=0.1.6',
     'sphinxcontrib-httpdomain>=1.7.0',
     'sphinxcontrib-redoc>=1.6.0',
-    'sphinxcontrib-spelling~=7.3',
+    'sphinxcontrib-spelling>=7.3',
 ]
 docker = [
     'docker>=5.0.3',
@@ -281,7 +291,7 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'elasticsearch-dbapi',
     'elasticsearch-dsl>=5.0.0',
 ]
-exasol = ['pyexasol>=0.5.1,<1.0.0', pandas_requirement]
+exasol = ['pyexasol>=0.5.1', pandas_requirement]
 facebook = [
     'facebook-business>=6.0.2',
 ]
@@ -292,47 +302,49 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'pygithub',
 ]
 google = [
+    # Google has very clear rules on what dependencies should be used. All the limits below
+    # follow strict guidelines of Google Libraries as quoted here:
+    # While this issue is open, dependents of google-api-core, google-cloud-core. and google-auth
+    # should preserve >1, <3 pins on these packages.
+    # https://github.com/googleapis/google-cloud-python/issues/10566
+    # Some of Google Packages are limited to <2.0.0 because 2.0.0 releases of the libraries
+    # Introduced breaking changes across the board. Those libraries should be upgraded soon
+    # TODO: Upgrade all Google libraries that are limited to <2.0.0
     'PyOpenSSL',
     # The Google Ads 14.0.1 breaks PIP and eager upgrade as it requires
     # google-api-core>=2.0.0 which cannot be used yet (see below comment)
     # and https://github.com/apache/airflow/issues/18705#issuecomment-933746150
     'google-ads>=12.0.0,<14.0.1',
-    # Maintainers, please do not require google-api-core>=2.x.x
-    # Until this issue is closed
-    # https://github.com/googleapis/google-cloud-python/issues/10566
     'google-api-core>=1.25.1,<3.0.0',
     'google-api-python-client>=1.6.0,<2.0.0',
-    # Maintainers, please do not require google-auth>=2.x.x
-    # Until this issue is closed
-    # https://github.com/googleapis/google-cloud-python/issues/10566
-    'google-auth>=1.0.0,<3.0.0',
+    'google-auth>=1.0.0',
     'google-auth-httplib2>=0.0.1',
     'google-cloud-aiplatform>=1.7.1,<2.0.0',
-    'google-cloud-automl>=2.1.0,<3.0.0',
-    'google-cloud-bigquery-datatransfer>=3.0.0,<4.0.0',
+    'google-cloud-automl>=2.1.0',
+    'google-cloud-bigquery-datatransfer>=3.0.0',
     'google-cloud-bigtable>=1.0.0,<2.0.0',
-    'google-cloud-build>=3.0.0,<4.0.0',
+    'google-cloud-build>=3.0.0',
     'google-cloud-container>=0.1.1,<2.0.0',
-    'google-cloud-datacatalog>=3.0.0,<4.0.0',
-    'google-cloud-dataproc>=3.1.0,<4.0.0',
+    'google-cloud-datacatalog>=3.0.0',
+    'google-cloud-dataproc>=3.1.0',
     'google-cloud-dataproc-metastore>=1.2.0,<2.0.0',
     'google-cloud-dlp>=0.11.0,<2.0.0',
-    'google-cloud-kms>=2.0.0,<3.0.0',
+    'google-cloud-kms>=2.0.0',
     'google-cloud-language>=1.1.1,<2.0.0',
-    'google-cloud-logging>=2.1.1,<3.0.0',
+    'google-cloud-logging>=2.1.1',
     # 1.1.0 removed field_mask and broke import for released providers
     # We can remove the <1.1.0 limitation after we release new Google Provider
     'google-cloud-memcache>=0.2.0,<1.1.0',
-    'google-cloud-monitoring>=2.0.0,<3.0.0',
-    'google-cloud-os-login>=2.0.0,<3.0.0',
+    'google-cloud-monitoring>=2.0.0',
+    'google-cloud-os-login>=2.0.0',
     'google-cloud-orchestration-airflow>=1.0.0,<2.0.0',
-    'google-cloud-pubsub>=2.0.0,<3.0.0',
-    'google-cloud-redis>=2.0.0,<3.0.0',
+    'google-cloud-pubsub>=2.0.0',
+    'google-cloud-redis>=2.0.0',
     'google-cloud-secret-manager>=0.2.0,<2.0.0',
     'google-cloud-spanner>=1.10.0,<2.0.0',
     'google-cloud-speech>=0.36.3,<2.0.0',
     'google-cloud-storage>=1.30,<2.0.0',
-    'google-cloud-tasks>=2.0.0,<3.0.0',
+    'google-cloud-tasks>=2.0.0',
     'google-cloud-texttospeech>=0.4.0,<2.0.0',
     'google-cloud-translate>=1.5.0,<2.0.0',
     'google-cloud-videointelligence>=1.7.0,<2.0.0',
@@ -340,7 +352,7 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'google-cloud-workflows>=0.1.0,<2.0.0',
     'grpcio-gcp>=0.2.2',
     'httpx',
-    'json-merge-patch~=0.2',
+    'json-merge-patch>=0.2',
     # pandas-gbq 0.15.0 release broke google provider's bigquery import
     # _check_google_client_version (airflow/providers/google/cloud/hooks/bigquery.py:49)
     'pandas-gbq<0.15.0',
@@ -348,12 +360,17 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'sqlalchemy-bigquery>=1.2.1',
 ]
 grpc = [
+    # Google has very clear rules on what dependencies should be used. All the limits below
+    # follow strict guidelines of Google Libraries as quoted here:
+    # While this issue is open, dependents of google-api-core, google-cloud-core. and google-auth
+    # should preserve >1, <3 pins on these packages.
+    # https://github.com/googleapis/google-cloud-python/issues/10566
     'google-auth>=1.0.0, <3.0.0',
     'google-auth-httplib2>=0.0.1',
     'grpcio>=1.15.0',
 ]
 hashicorp = [
-    'hvac~=0.10',
+    'hvac>=0.10',
 ]
 hdfs = [
     'snakebite-py3',
@@ -402,16 +419,17 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
 ]
 leveldb = ['plyvel']
 mongo = [
-    'dnspython>=1.13.0,<3.0.0',
+    'dnspython>=1.13.0',
     # pymongo 4.0.0 removes connection option `ssl_cert_reqs` which is used in providers-mongo/2.2.0
+    # TODO: Upgrade to pymongo 4.0.0+
     'pymongo>=3.6.0,<4.0.0',
 ]
 mssql = [
-    'pymssql~=2.1,>=2.1.5',
+    'pymssql>=2.1.5',
 ]
 mysql = [
-    'mysql-connector-python>=8.0.11, <9',
-    'mysqlclient>=1.3.6,<3',
+    'mysql-connector-python>=8.0.11',
+    'mysqlclient>=1.3.6',
 ]
 neo4j = ['neo4j>=4.2.1']
 odbc = [
@@ -424,7 +442,7 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'cx_Oracle>=5.1.2',
 ]
 pagerduty = [
-    'pdpyras>=4.1.2,<5',
+    'pdpyras>=4.1.2',
 ]
 pandas = [
     pandas_requirement,
@@ -440,7 +458,7 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
 pinot = [
     # pinotdb v0.1.1 may still work with older versions of Apache Pinot, but we've confirmed that it
     # causes a problem with newer versions.
-    'pinotdb>0.1.2,<1.0.0',
+    'pinotdb>0.1.2',
 ]
 plexus = [
     'arrow>=0.16.0',
@@ -449,11 +467,13 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'psycopg2-binary>=2.7.4',
 ]
 presto = [
+    # The limit to Presto 0.8 for unknown reason
+    # TODO: Remove the limit
     'presto-python-client>=0.7.0,<0.8',
     pandas_requirement,
 ]
 psrp = [
-    'pypsrp~=0.8',
+    'pypsrp>=0.8',
 ]
 qubole = [
     'qds-sdk>=1.10.4',
@@ -462,6 +482,10 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'amqp',
 ]
 redis = [
+    # Redis 4 introduced a number of changes that likely need testing including mixins in redis commands
+    # as well as unquoting URLS with `urllib.parse.unquote`:
+    # https://github.com/redis/redis-py/blob/master/CHANGES
+    # TODO: upgrade to support redis package >=4
     'redis~=3.2',
 ]
 salesforce = ['simple-salesforce>=1.0.0', 'tableauserverclient', pandas_requirement]
@@ -472,7 +496,7 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'analytics-python>=1.2.9',
 ]
 sendgrid = [
-    'sendgrid>=6.0.0,<7',
+    'sendgrid>=6.0.0',
 ]
 sentry = [
     'blinker>=1.1',
@@ -480,7 +504,7 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
 ]
 singularity = ['spython>=0.0.56']
 slack = [
-    'slack_sdk>=3.0.0,<4.0.0',
+    'slack_sdk>=3.0.0',
 ]
 snowflake = [
     # Snowflake connector 2.7.2 requires pyarrow >=6.0.0 but apache-beam requires < 6.0.0
@@ -497,16 +521,16 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
 ssh = [
     'paramiko>=2.6.0',
     'pysftp>=0.2.9',
-    'sshtunnel>=0.3.2,<0.5',
+    'sshtunnel>=0.3.2',
 ]
 statsd = [
-    'statsd>=3.3.0, <4.0',
+    'statsd>=3.3.0',
 ]
 tableau = [
     'tableauserverclient',
 ]
 telegram = [
-    'python-telegram-bot~=13.0',
+    'python-telegram-bot>=13.0',
 ]
 trino = [
     'trino>=0.301.0',
@@ -522,7 +546,7 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'hdfs[avro,dataframe,kerberos]>=2.0.4',
 ]
 winrm = [
-    'pywinrm~=0.4',
+    'pywinrm>=0.4',
 ]
 yandex = [
     'yandexcloud>=0.122.0',
@@ -537,6 +561,7 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
 # for details. Wy want to install them explicitly because we want to eventually move to
 # mypyd which does not support installing the types dynamically with --install-types
 mypy_dependencies = [
+    # TODO: upgrade to newer versions of MyPy continuously as they are released
     'mypy==0.910',
     'types-boto',
     'types-certifi',
@@ -563,11 +588,11 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
 # Dependencies needed for development only
 devel_only = [
     'aws_xray_sdk',
-    'beautifulsoup4~=4.7.1',
+    'beautifulsoup4>=4.7.1',
     'black',
     'blinker',
     'bowler',
-    'click>=7.1,<9',
+    'click>=7.1',
     'coverage',
     'filelock',
     'flake8>=3.6.0',
@@ -580,7 +605,9 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'jira',
     'jsondiff',
     'mongomock',
-    'moto~=2.2, >=2.2.12',
+    # Moto3 is limited for unknown reason
+    # TODO: attempt to remove the limitation
+    'moto~=2.2,>=2.2.12',
     'parameterized',
     'paramiko',
     'pipdeptree',
@@ -588,10 +615,16 @@ def write_version(filename: str = os.path.join(*[my_dir, "airflow", "git_version
     'pypsrp',
     'pygithub',
     'pysftp',
+    # Pytest 7 has been released in February 2022 and we should attempt to upgrade and remove the limit
+    # It contains a number of potential breaking changes but none of them looks breaking our use
+    # https://docs.pytest.org/en/latest/changelog.html#pytest-7-0-0-2022-02-03
+    # TODO: upgrade it and remove the limit
     'pytest~=6.0',
     'pytest-asyncio',
     'pytest-cov',
     'pytest-instafail',
+    # We should attempt to remove the limit when we upgrade Pytest
+    # TODO: remove the limit when we upgrade pytest
     'pytest-rerunfailures~=9.1',
     'pytest-timeouts',
     'pytest-xdist',