fiscal year 2024

Income Tax Slabs Budget 2024: No Income Tax up to ₹3 Lakh under revised personal income tax rate – Full Details | Mint

by
Income Tax Slabs Budget 2024: No Income Tax up to ₹3 Lakh under revised personal income tax rate – Full Details | Mint

Budget 2024: Tabling the Union Budget 2024-25 in Parliament, Union Finance and Corporate Affairs Minister Nirmala Sitharaman announced significant changes in personal income tax rates for the fiscal year 2024-25 to reduce the tax outgo of the masses. The Finance Minister has provided relief to taxpayers by revising the income tax slabs for the current fiscal … Read more

Budget 2024: Sitharaman says 58% tax came from simplified corporate tax regime | Mint

by
Budget 2024: Sitharaman says 58% tax came from simplified corporate tax regime | Mint

Budget 2024: Union Finance Minister Nirmala Sitharaman on Tuesday said 58 per cent tax came from simplified corporate tax regime in the financial year 2024.More than two-thirds of individuals availed the new income tax regime, Sitharaman said in the Lok Sabha while presenting the Union Budget for fiscal year 2024-25.She also announced that the government … Read more

Budget 2024: Industry players suggest govt to simplify tax system, give relief to middle class

by
Budget 2024: Industry players suggest govt to simplify tax system, give relief to middle class

Image Source : INDIA TV Budget 2024 Budget 2024: In the general budget for the fiscal year 2024-25, the focus should be on providing relief to taxpayers, especially those in the lower-income group, to boost consumption, Industry leaders suggested to Finance Minister Nirmala Sitharaman. Sitharaman is set to present the full budget for 2024-25 on … Read more

NJ budget deal taxes companies more to fund NJ Transit and supports senior tax break

by
NJ budget deal taxes companies more to fund NJ Transit and supports senior tax break

New Jersey Gov. Phil Murphy and legislative leaders have once again hashed out a budget behind closed doors just in time to avert a government shutdown — leaving little time for lawmakers to review more than $56 billion in spending.Among the key provisions: The state will be investing more than expected in a program slated … Read more

Finance minister proposes income tax exemption for freelancers

by
Finance minister proposes income tax exemption for freelancers

Finance Minister Abul Hasan Mahmood Ali proposed income tax exemption for freelancers in the proposed 2024-25 financial year budget. “As a supporter of building Smart Bangladesh, I propose to exempt from tax the income arising from any of the following business activities of a resident individual or a non-resident Bangladeshi natural person, for three years, on … Read more

Finance ministry to cut corporate tax for industries, consumer goods in new budget, says source

by
Finance ministry to cut corporate tax for industries, consumer goods in new budget, says source

The government plans to reduce corporate tax rates in the productive sector by 2.5 percent in the upcoming fiscal year 2024-25 to encourage setting up of industries and increase tax payments.

Direct tax collection jumps 17.7% in FY24

by
Direct tax collection jumps 17.7% in FY24

Fact: India’s net direct tax collections surged by 17.7% year-on-year to Rs 19.58 crore in the fiscal year ended March 2024, exceeding Budget Estimates by 7.40%.