Union Budget 2024:
- The Finance Bill, 2024
- Union Budget Speech
- Memorandum Explaining the Provisions in the Finance Bill, 2024
- Key Features of Budget 2024
- Key to the Budget Documents 2024
Continuity in taxation:
Certain tax benefits to Start-ups and investments made by sovereign wealth funds/pension funds, tax exemption of some IFSC units earlier expiring on 31.03.2024 extended up to 31.03.2025
Withdrawal of outstanding direct tax demand: –
- Up to ₹25,000 pertaining up to FY10
- Up to ₹10,000 for FY11-FY15
Expected to benefit approx. 1 crore taxpayers
Retention of same tax rates: –
- For direct and indirect taxes, including import duties
- For Corporate Taxes-22% for existing domestic companies, 15% for certain new manufacturing companies
- No tax liability for taxpayers with income up to ₹7 lakh under the new tax regime
Budget Speech by Finance Minister