One of the major changes is the increase in the standard deduction for those opting for the new tax regime. The standard deduction has been raised from ₹50,000 to ₹75,000. ...
Grover's comment about preferring to watch an Ambani wedding over the budget highlights a broader issue of priorities. It suggests that the budget failed to capture the public's interest or provide a sense of purpose. ...
Long-term capital gains on non-financial assets were taxed at 20% with the indexation benefit. Now, from July 23, taxes on long-term capital gains for all financial and non-financial assets will be increased to 12.5%, up from the current 10%....
Sitharaman also mentioned the government's commitment to simplifying and rationalizing the GST tax structure to make it more efficient. For those choosing the new tax regime, Sitharaman announced an increase in the standard deduction for salaried employees from Rs 50,000 to Rs 75...
According to the proposed change in the Union Budget 2024, 20% Tax Deducted at Source (TDS) on the repurchase of units by mutual funds and the Unit Trust of India (UTI) will be eliminated. Apart from this, it also consolidates the TDS rates - the 5% rate for many payments will be...
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