budget 2024

Budget 2024: Capital gains tax reforms align with investor expectations for rationalization

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Budget 2024: Capital gains tax reforms align with investor expectations for rationalization

The finance minister’s latest announcement may have unsettled some investors, but the overarching goal of the Union budget is clear: simplification. For years, taxpayers have called for less confusion and more straightforward tax compliance. In response, the Finance Bill 2024 introduces changes designed to streamline capital gains provisions significantly. Currently, the capital gains regime features … Read more

Budget 2024: From Namo Drone Didi to Mission Shakti—Check 6 key announcements for women empowerment

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Budget 2024: From Namo Drone Didi to Mission Shakti—Check 6 key announcements for women empowerment

Budget 2024: The Union Budget 2024 placed special emphasis on women-led development schemes. Finance Minister Nirmala Sitharaman announced ₹3 lakh crore allocations for schemes to promote women-led development. The Finance Minister also announced the setting up of working women’s hostels and creches to boost female participation in the workforce. The government has also increased budget … Read more

20% levy on short-term capital gains has given young F&O traders a tax incentive

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20% levy on short-term capital gains has given young F&O traders a tax incentive

NEW DELHI : Ahead of the Union Budget 2024-25, rumours were rife that tax on futures and options (F&O) would be increased to curb the increasing retail participation in the derivatives market. But while the Centre didn’t touch F&O, barring a nominal increase in securities transaction tax (STT), it increased tax on short- and long-term … Read more

Three new Budget schemes target formal employment. But will they deliver new jobs?

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Three new Budget schemes target formal employment. But will they deliver new jobs?

In its first budget since returning to power with a reduced majority, the Bharatiya Janata Party-led government has made job creation a central focus, introducing financial incentives aimed at expanding formal-sector employment. Although the specifics of the three targeted schemes are still pending, they primarily offer financial benefits to both first-time employees and employers. Despite … Read more

Budget 2024: FM announced these changes to make taxpayer’s lives easier, reduce litigation

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Budget 2024: FM announced these changes to make taxpayer’s lives easier, reduce litigation

Offering a sense of relief to taxpayers, Union Finance and Corporate Affairs Minister Nirmala Sitharaman in Budget 2024 announced a number of key changes with regards to reopening and reassessment of old income tax returns (ITR) filed by taxpayers. In Budget 2024, Finance Minister Nirmala Sitharaman proposed that reopening and reassessment of income tax returns will be allowed in … Read more

Budget 2024: Taxpayers to get relief as TDS default rules proposed to be eased

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Budget 2024: Taxpayers to get relief as TDS default rules proposed to be eased

Budget 2024 introduces much-needed relief for taxpayers by easing the rules for initiating prosecution proceedings in cases of TDS defaults. This move aims to streamline tax laws and reduce the litigation burden on taxpayers. Currently, tax laws consider delays in the payment of taxes deducted at source as a criminal offence if not paid or … Read more

Income Tax Changes in Budget 2024: Dos and don’ts for individual taxpayers

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Income Tax Changes in Budget 2024: Dos and don’ts for individual taxpayers

The budget has brought in some major changes in taxation which would impact individuals. People may make some knee-jerk decisions as a quick reaction to the tax announcements and this article tends to suggest the do’s and don’ts to help people to avoid unwise actions. Before even getting into any specifics, regardless of changes in … Read more

Budget 2024-25: The ultimate explainer

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Budget 2024-25: The ultimate explainer

And while the economy is galloping, there are pain points that are beginning to hurt. India has emerged as the fastest growing large economy with an enviable gross domestic product (GDP) growth of over 8%. However, the economic expansion has been uneven. The rural economy, particularly, has been sluggish and there simply aren’t enough jobs … Read more

’Budget 2024 erases healthcare from national priority’

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’Budget 2024 erases healthcare from national priority’

The Union budget for 2024-25 is surprisingly silent on health, said Prof K Srinath Reddy, a leading public health expert and former president of the Public Health Foundation of India (PHFI) on Wednesday.  While infrastructure and employment are undoubtedly vital for India’s development, he said, it was as if the budget wished to erase any … Read more

Budget 2024 debate: FM Nirmala Sitharaman tears into Opposition, says no state being denied any money – Key points

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Budget 2024 debate: FM Nirmala Sitharaman tears into Opposition, says no state being denied any money - Key points

Union Finance Minister Nirmala Sitharaman on Tuesday responded to Budget 2024-25 debate in Lok Sabha and slammed Opposition parties for ‘misleading claims’ that the Budget has provided funds only to Bihar and Andhra Pradesh and nothing to other states. “If a state’s name is not mentioned in Budget speech, it doesn’t mean that no money … Read more