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Video Tags: Income Tax Budget 2024 LIVE Updates: New tax slabs, standard deduction, and other details under new regime you must know
21 min read . Updated: 23 Jul 2024, 02:10 PM ISTLivemint
#IncomeTaxBudget2024 Live Updates: FM Nirmala Sitharaman presents the full budget for 2024-25, marking the first under the Modi 3.0 government. All eas are on significant income tax announcements from the Finance Minister
Income Tax Budget 2024 LIVE Updates: Finance Minister Nirmala Sitharaman is presenting Budget 2024 today, July 23. This marks her seventh consecutive budget presentation, following an interim budget earlier due to the 2024 Lok Sabha Polls, which saw no significant announcements. The salaried class in India eagerly awaits the PM Modi-led government to announce relief through tax cuts or increases in income tax slabs. Expectations range from raising the standard deduction limit to adjusting income tax slabs to lighten taxpayers' financial burdens.
In Budget 2023, the Modi Government introduced several new income tax regulations, notably making the new tax regime the default option while allowing taxpayers to choose the benefits of the old regime.
How to access Budget 2024 documents:
You can view the Budget 2024 through the Union Budget Mobile App, available on Android and iOS platforms. Following the Budget speech, documents will be accessible on the web portal at www.indiabudget.gov.in.
Read the latest news on Budget 2024 with our live coverage on the Income Tax Slab, Impact on Share Market, Budget Key Highlights, and Corporate Reactions.
23 Jul 2024, 02:10:17 PM IST
Income Tax Budget 2024 LIVE: On changes in STT and long-term tax rates,
Income Tax Budget 2024 LIVE: On changes in STT and long term tax rate, CA Pitam Goel, Co Founder - Tattvam Group says that Increase in STT rates for Derivatives to 0.1% and futures to 0.02% may not go well with investors. Further, anincrease in capital gains for listed equity instruments to 12.5% will leave investors dejected. Proposing to tax buy-back proceeds as dividends may also pose challenges as buy-back route is opted not only for profit distribution but also for internal re-structuring