[ad_1] What were not widely expected, however, were the significant taxation changes proposed in the Finance Bill 2024. The fact that the memorandum explaining these provisions runs into 114 pages says a lot. As finance minister Nirmala Sitharaman said in her speech, she intends to overhaul the provisions of the Income Tax Act, 1961 with…
[ad_1] The Union Budget 2024 brought substantial revisions to the new tax system, enhancing its appeal to taxpayers. The standard deduction has been raised from ₹50,000 to ₹75,000 in the new tax regime introduced in this year’s budget announcement. Individuals earning up to ₹7 lakh per year will be exempt from paying income tax. The…
[ad_1] It underscores the government’s commitment to fostering a robust economic environment that facilitates growth across various sectors, ensuring India remains resilient amid global uncertainties. It also provides a detailed road-map that highlights nine major priorities over the next five years, focusing on the poor, women, youth and farmers. These priorities aim to uplift all…
[ad_1] In life, nothing comes for free. After Tuesday’s budget, add taxation relief. Take the changes in India’s tax regime for capital gains. While investors now have rules that are somewhat easier to recall, thanks to greater uniformity in rates across asset classes and the time limit beyond which assets qualify as having been held…
[ad_1] Moreover, this has been done with attention to macroeconomic stability and fiscal prudence, adhering to a path of fiscal consolidation, with the fiscal deficit pegged at 4.9% for 2024-25, in contrast with 5.6% of GDP in 2023-24. This will open up space for private-sector participation. Focused on all-round development measures that would generate economic…
[ad_1] INDIA bloc protest LIVE: Leaders of INDIA bloc protest against ‘discriminatory’ Union Budget 2024 which was presented by Finance Minister Nirmala Sitharaman on July 23. The INDIA bloc leaders are demanding equal treatment to all States, in Parliament. While speaking to reporters, Congress President & LoP Rajya Sabha Mallikarjun Kharge said, “Many didn’t get…
[ad_1] From left and clockwise: Nirmal Jain, Founder, IIFL Group; Kumar Mangalam Birla, Chairman, Aditya Birla Group; Jairam Varadaraj, Managing Director of Elgi Equipments; R. Dinesh, Chairman, TVS Supply Chain Solutions Limited; P. B. Balaji, Group CFO at Tata Motors Ltd.; Lakshminarayanan Duraiswamy, MD, Sundaram Home Finance; R. Nandini, Managing Director of Chandra Group, and…
[ad_1] It was also the record seventh time that finance minister Nirmala Sitharaman presented a budget. Her budget proposals show admirable fiscal restraint and conservative assumptions on revenues. Even though another full budget presentation is due in six months, this was an important occasion to articulate an economic strategy. The major thrust of the Union…
[ad_1] Union Finance Minister Nirmala Sitharaman said “rural land-related actions will include assignment of unique land parcel identification numbers or Bhu-Aadhaar for all lands, digitisation of cadastral maps, survey of map sub-divisions as per current ownership, establishment of land registry, and linking to the farmers registry”. Photo: https://dolr.gov.in/ulpin/ The 2024-2025 Union Budget presented by Finance…
[ad_1] Army tanks and other weapon systems being showcased during the 72nd Republic Day parade at Rajpath, in New Delhi. File | Photo Credit: PTI Union Finance Minister Nirmala Sitharaman allocated ₹6.22 lakh crore for the defence sector in 2024-25 which is almost the same as in the interim Budget presented in February. At approximately…
