Explore potential amendments in Budget 2024 to advance tax provisions under Section 234C of the Income-tax Act, which could ease the financial burden on gig workers, freelancers, and new entrepreneurs.
The government is considering a proposal to increase the tax-deductible amount on interest earned from savings accounts to ₹25,000, sources familiar with the matter revealed.
The Pre-Budget consultations for Union Budget 2024-25 that started from 19th June 2024 onward in the Ministry of Finance and chaired by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman, concluded on 5th July 2024.
Union Finance Minister Nirmala Sitharaman is set to present the Union Budget for the financial year 2024-25 on July 23, 2024. This was confirmed by the Union Minister of Parliamentary Affairs, Kiren Rijiju, in a post on X (formerly Twitter) on July 6.
With the new government in place, stakeholders from various industries are eagerly anticipating the comprehensive budget for FY 2024-25
Finance Minister Nirmala Sitharaman is expected to present the Union Budget for FY25 on July 23 or 24, according to some reliable sources. However, there is no official confirmation on the exact date of the budget presentation.
Union Finance Minister Smt. Nirmala Sitharaman chairs Pre-Budget consultation with Finance Ministers of States/ Union Territories (with Legislature) for taking suggestions for Union Budget 2024-25
On Wednesday, Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, chaired the first pre-budget consultation in preparation for the General Budget 2024-25.
The government is reportedly considering significant reforms to the current income tax structure, specifically targeting lower income levels, to enhance consumption and stimulate economic activity.
The Ministry of Finance, Department of Revenue, Tax Research Unit has taken a proactive step towards inclusive policy-making by inviting suggestions from Industry and Trade Associations for the upcoming Budget 2024-25.
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