How is the concept of budget relevant to the individual in personal finance?
Finance Minister Nirmala Sitharaman is going to deliver the fourth paperless budget on February 1, outlining the interim Budget for the financial year 2024-25.
As Lok Sabha elections are due in India in early 2024, the government shall be announcing an interim budget instead of a full-fledged budget, which shall function as a transitional financial plan for the remaining months of government in power.
Amendment in Section 43B of Income Tax Act, 1961 (Certain expenses to be allowed on payment basis) by insertion of new clause (h) with effect from 01.04.2024
The Budget 2023 provides tax benefits and other measures for the Micro, Small and Medium Enterprises (MSMEs) and startups in the country, which helps them grow and boost their businesses
Through this write up changes in domestic taxation will be articulated keeping in mind the Supreme Court judgment's impact in the Income –Tax Act(''ACT") and Income tax Rules(''Rules").
This budget brings in significant changes that affect payroll calculations for most employees. A large portion of the workforce may also shift to the new tax regime. Employees expect a smooth, hassle-free transition with accurate payouts.
Honourable Finance Minister Mrs Nirmala Sitharaman had declared the Finance Budget of 2023-24 on 01st February in the Lok Sabha. Why there is a lot of discussion going around the Old Tax Regime and New Tax Regime of the Income Tax regime?
A Resident Individual is entitled to a Rebate of 100% of the amount of tax payable under the provisions of Section 87 A of the Act for the total income up to Rs. 7 Lakhs ( earlier it was Rs. 5L)
In this article, the author has examined the eligibility of ITC on expenses related to CSR, in light of the proposed amendment in Budget 2023.
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