Budget 2024: Presenting her seventh Union Budget in Lok Sabha, Finance Minister Nirmala Sitharaman on Tuesday announced the scrapping of angel tax for all investors. Venture investors hailed the proposed abolition of the decade-old tax regime as “a huge reform.” Harsh Bhuta, Partner, Bhuta Shah, and Co LLP said that removing Angel Tax marks a … Read more
The Union budget for 2024-25 has proposed several changes in the capital gains tax structure, some of which are surprising moves that the mutual fund industry and the wider market community were not prepared for. One of the most significant was the hike in long-term capital gains tax from 10% to 12.5%. The budget’s proposal … Read more
In a recent LinkedIn post, Andhra Pradesh Chief Minister N Chandrababu Naidu shared encouraging updates on the progress of the new NDA government in Andhra Pradesh. The TDP supremo emphasised that the state is regaining momentum thanks to productive meetings with key stakeholders, including foreign investors, NITI Aayog representatives, and BPCL officials. According to Chandrababu … Read more
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
One of the ambitious schemes is to get the country’s 500 biggest companies to provide paid internships to 10 million youth over the next five years, making them job-ready in the process. While the intent is laudable, given high youth unemployment and unemployability, the scale of the scheme could make it unviable. R. Shankar Raman, … Read more
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
New Delhi: Privatisation of central public sector enterprises has not been put on hold, but is not a priority under the government’s calibrated approach to disinvestment, said Tuhin Kanta Pandey, secretary of the department of investment and public asset management (DIPAM). He said that the focus will be on ‘value creation’ from disinvestment, dividends and … Read more
In the Union budget for 2024-25, among the 85 proposed amendments in the Finance (No. 2) Bill, 2024, the revision concerning the taxability of long-term capital gains (LTCG) from the sale of immovable property, effective 23 July 2024, has garnered significant attention. This piece deciphers the complexities of this critical budget amendment, offering practical calculations … Read more
In Budget 2024, Union Finance and Corporate Affairs Minister Nirmala Sitharaman revised income tax slabs under the New Tax Regime, offering considerable savings in the hands of salaried taxpayers. After the revision of income tax slabs, there is no tax liability for income up to ₹3 lakh. However, as the changes announced in Budget 2024 … Read more
Mumbai: The Union budget has proposed to subsidize loans of up ₹10 lakh for students seeking higher education in domestic institutions, a move aimed to benefit 100,000 students every year. However, only those who have not benefited from any other government scheme can benefit from this scheme. Given in the form of vouchers to students, … Read more