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The Budget 2024 has proposed to lower the higher tax deduction for individuals. As per the announcement, individuals who have paid TCS on foreign remittances, foreign travel and purchase of car etc. can now inform the same to their employer to reduce their TDS on salary.
In a bid to bolster the Indian startup ecosystem, the Centre today announced the abolishment of angel tax for all classes of investors.
If you own a house, which you are planning to sell, it is likely that you will end up paying more tax on the transaction from now own. As a key change comes into effect post the union budget tabled by Finance Minister Nirmala Sitharaman, capital gains tax on sale of real estate assets like homes would be higher for most owners.
The Union Finance Minster Nirmala Sitharaman on Tuesday presented the Union Budget 2024 in Parliament focused on several areas inducing the agriculture, manufacturing, and services sectors.
The Union Budget 2024, presented by Finance Minister Sitharaman on Tuesday, introduced several significant changes to income tax rules that will have a direct impact on the finances of individuals. Let’s look into the various tax measures that were introduced, modified, or removed.
In a landmark move set to redefine India’s tax landscape, the Finance Minister’s Budget 2024 presentation in Parliament unveiled a game-changing addition to the Goods and Services Tax (GST) framework.
Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman in her Budget speech today said that GST has decreased the tax incidence on common man, reduced compliance burden and logistics cost for trade and industry. While presenting the Union Budget 2024-25 in Parliament today, the Minister termed GST as a success of vast proportions.
CBIC issued Explanatory note vide D.O. F. No. 334/04/2024-TRU on 23.07.2024.
Pursuant to Budget 2024 following Notifications issued on 23.07.2024 by CBIC Customs