Delhi will receive ₹1,168 crore from the Centre in 2024-25 for various purposes, including compensation for victims of 1984 riots, grants in lieu of share in central taxes and duties, contribution to Union Territory Disaster Response Fund, and Central assistance for externally aided projects. Delhi finance minister Atishi on Tuesday said the Union Budget 2024-25 “betrayed” … Read more
The Indian government has abolished the angel tax, introduced in 2012 to prevent black money through unlisted company shares, to support the startup ecosystem. Finance Minister Nirmala Sitharaman’s announcement in the Union Budget 2024-25 will provide relief to startups seeking to make a significant impact in the competitive Indian economy. Angel tax Indian investors were … Read more
Finance Minister Nirmala Sithraman suggested raising the Standard deduction for professionals enrolled in the new tax regime from Rs. 50,000 to Rs. 70,000, which would be a significant benefit for working professionals. The phrase describes the one-time, flat deduction of Rs 50,000 from a salaried person’s taxable pay income. First, it is suggested to raise … Read more
On July 23, the Lok Sabha will hear the presentation of the 2024 Union Budget, which has been authorised by President Droupadi Murmu. The budget meeting is scheduled for July 22–August 12. What does the 2024 Union Budget entail for Taxpayers? The new budget is expected to increase the standard deduction limit when it comes … Read more
President Droupadi Murmu, addressing a joint sitting of the Parliament on Thursday, said that the newly formed National Democratic Alliance (NDA) government’s first budget will be futuristic and will facilitate fast-tracked reforms. Delivering her first presidential address after the formation of the third NDA government, Murmu said that major economic and social decisions, along with historical … Read more