Union Budget 2024-2025 Highlights
Highlights of the changes under GST Law.
Category: Budget-II 2024-25
Union Budget 2024: AstraZeneca set to gain from customs duty exemption on key cancer drugs in full Budget
Global pharmaceutical giant AstraZeneca is expected to benefit following Finance Minister Nirmala Sitharaman’s announcement of the exemption of customs duties on three key cancer drugs in the Union Budget 2024-25 on Tuesday.
Key Highlights of Proposed Changes in the Income Tax Law in the Union Budget 2024-25 for easy digest
India is growing at an accelerated pace and people are undertaking multiple financial transactions. The Income Tax Department has established a robust framework of reporting of taxpayers’ transactions.
Key Highlights of Proposed Changes in the Customs & Excise in the Union Budget 2024-25 for easy digest
Changes in Customs, Central Excise and rates have been proposed through the Finance (No.2) Bill, 2024.
Key Highlights of Proposed Changes in the GST in the Union Budget 2024-25 for easy digest
The Finance (No.2) Bill, 2024 has proposed changes in the CGST Act, IGST Act, UTGST Act and GST (Compensation to States) Act, 2017
Cut in gold import duty will curb smuggling, boost jewellery exports: Goyal
The announcement in the Budget to cut import duty on gold will help boost domestic manufacturing and promote jewellery exports, Commerce and Industry Minister Piyush Goyal said on Tuesday.
NRI to pay higher tax on these capital gains on assets such as listed equities
Budget 2024 proposes a higher tax on certain capital gains for non-residents. However, it has also proposed to reduce on certain assets. The new tax rate will apply only on transfers made on or after July 23, 2024. The revision is aimed at bringing parity between resident and non resident taxation structure.
Budget 2024: Securities transaction tax (STT) on F&O hiked to 0.02% and 0.1%
The 2024 budget has increased the securities transaction tax (STT) on Futures & Options (F&O) of securities to 0.02 percent and 0.1 percent respectively and income receipts from share buybacks would be taxed in the hands of beneficiaries.
Budget 2024 reduces TDS on life insurance policy payout from 5% to 2%
It is proposed that TDS under section 194DA of the Act be reduced from 5% to 2%” says explanatory memorandum of budget 2024.
New Section 128A – Waiver of Interest or Penalty for Certain Tax Periods
Author has expressed his views on the new section 128A which provides for the waiver of interest or penalty for certain tax in the PPT attached.