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
Individual taxpayers eagerly awaited the Union Budget 2024, anticipating significant tax relief from the Modi 3.0 government. Many expected enhanced deductions or revised tax slabs that would lower overall tax rates. The Reserve Bank of India’s optimistic economic outlook and repeated affirmations of India as the fastest-growing major economy fuelled these expectations. Additionally, the government’s … Read more
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
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
On July 23, 2024, Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in the Parliament, announcing modifications to direct taxes. One notable highlight of the Union Budget 2024-25 is the 50% rise in the standard deduction, now up to ₹75,000. This is a beneficial move for salaried taxpayers, particularly those choosing the new tax … Read more
Budget 2024: Central Board of Direct Taxes (CBDT) chairman Ravi Agrawal has said the comprehensive review of the Income Tax Act, 1961 is an attempt to make the “bulky” law “simpler” for taxpayers. Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget for fiscal year 2024-25 on July 23, announced that the government would … Read more
In a recent interview, Finance Minister Nirmala Sitharaman revealed that the Union Budget 2024 aims to provide relief to the middle class, albeit within certain limitations. Nirmala Sitharaman stated, “I want to relieve the middle class, but I have limitations too. I want to give relief by reducing the tax rate, and that is why … Read more
The budget proposal for the critical minerals mission is expected to encourage local manufacture of battery cells and increase domestic value addition, especially since an ₹18,100 crore production-linked incentive (PLI) scheme for advanced chemistry cells (ACC) is nearly exhausted. Early gainers may include companies already approved under the ACC PLI such as Ola Electric Mobility, … Read more
Union Budget 2024: TeamLease Services share price shot up about 10% on Tuesday after Finance Minister (FM) Nirmala Sitharaman said that the government will allocate ₹2 lakh crore for job creation over the next five years. TeamLease Services share price opened at an intraday low of ₹2,830 apiece on BSE, the stock touched an intaday … Read more
Finance Minister Nirmala Sitharaman will unveil the Union Budget for the financial year 2024-25 at 11 a.m. on Tuesday. This critical document will outline the government’s revenue and expenditure plans, influencing economic growth and stability across the nation. Understanding the budget’s implications for individuals and businesses alike is essential for informed financial decision-making. Also Read … Read more