Budget fy 24-25


This query is : Resolved 

Quick Summary
The discussion centres on the Indian Budget for FY 24-25, specifically regarding TDS (Tax Deducted at Source) and tax exemptions. While a 5% TDS applies above ₹3 lakh, there's uncertainty about whether the ₹7.5 lakh tax exemption under Section 87A will continue. Final details are pending parliamentary approval, but it's anticipated that the exemption will remain, meaning tax would only apply on income exceeding ₹3 lakh if the exemption limit is crossed.

24 July 2024 3 lakh ke uppar 5% tds hai but ek sawal hai ki jo 7.5 lakh Tak ka exemption hai woh continue rahega FY 24-25 mai ya nahi

24 July 2024 Final details are still awaited. Secondly the bill has to be passed from both houses after discussion.
It is estimated that there is no change in Sec. 87A IT act. If so, the then the exemption would be continued.

24 July 2024 If your cross the exemption limit then tax will start from 3lak.

31 July 2024 Thank you for your reply sir😊

31 July 2024 You are welcome.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
Featured 16 July 2026
Semi Qualified Company Secretary

Vakilsearch.com

Chennai

CS

View Details
Company
ARTICLESHIP 28 July 2026
Article/Intern/Semi-Qualified/Fresher B.Com

VNSS & Co

Mumbai

Others

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
23 July 2026
Senior Accountant

Felicity Adobe LLP

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

Sahil Agarwal & Company

Mumbai

CA Inter

View Details
Company
Featured 18 July 2026
Senior Manager- Finance & Accounts

apricus india

Ahmedabad

CA

View Details
Company
13 July 2026
AVP / VP - PCG Advisory

Workforce Connect

Mumbai

MBA

View Details
Follow