Budget 2024 Income Tax Expectations: Ahead of the Union Budget 2024 presentation by Finance Minister Nirmala Sitharaman, the government is currently evaluating a proposal to raise the tax-deductible limit on interest income from savings accounts to Rs 25,000. This suggestion was put forward by banks during a recent meeting with key officials from the finance…
Budget 2024 income tax expectations: Finance Minister Nirmala Sitharaman should increase the basic exemption limit under the new income tax regime and also raise the standard deduction threshold in the Union Budget 2024, says EY in its pre-Budget 2024 recommendations.Currently the basic exemption limit under the new income tax regime is Rs 3 lakh. Standard…
Budget 2024 expectations: Finance Minister Nirmala Sitharaman is getting ready to present Modi 3.0 government’s first full Union Budget in the second half of July. This will be Sitharaman’s seventh Union Budget in a row, making her the first finance minister to do so. Ahead of India Budget 2024, industry associations and bodies are releasing…
Budget 2024 income tax expectations: The Modi government is mulling over the possibility of reducing personal tax rates for specific groups of individuals, according to two government sources who spoke to Reuters. This move has the potential to stimulate consumption in India, which is the third-largest economy in Asia. The sources, who requested anonymity due…
