Budget 2024 For Common Man: From New Tax Rate Structure, Standard Deduction To NPS| 10 Points | Personal Finance News

New Delhi: In line with expectations, Finance Minister Nirmala Sitharaman offered a slew of measures and sops for the common people, who had pinned high hopes from the FM. Here are 10 Key Highlights of Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday. 1. Standard Deduction  Standard Deduction in […]

ABHISEK RAJPUT

July 23, 2024

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Budget 2024 Highlights On Income Tax: Revised Tax Slab In New Tax Regime | Personal Finance News

New Delhi: Bringing the much needed cheer to the salaried individuals, Finance Minister Nirmala Sitharaman on Tuesday announced revisions in the New Tax Regime. As per FM’s announcement, under new tax regime, tax rate structure will be revised as follows – No tax up to Rs 3 lakh  – 5% tax on income up to […]

ABHISEK RAJPUT

July 23, 2024

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Budget 2024: Has The Budget Failed To Address Concerns Of Middle-Class? Explained | Economy News

New Delhi: Finance Minister Nirmala Sitharaman presented the first budget of Modi 3.0 and middle-class taxpayers were expecting some tax cuts.  Their expectations were genuine because the government got bumper non-tax revenue in the form of dividends from RBI and GST collections are also rising. The central government is no longer under any obligation to […]

ABHISEK RAJPUT

July 24, 2024

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Budget 2024: Rebate Under Section 87A Decreases By Rs 5K As Tax Structure Under New Tax Regime Revised — Understanding The Math | Personal Finance News

New Delhi: Finance Minister Nirmala Sitharaman, presenting the Budget 2024 in Parliament made two significant announcements for the employed people to make for those opting for the New Tax Regime. First, the standard deduction for salaried employees is proposed to be increased from Rs 50,000 to Rs 75,000. Similarly, deduction on family pension for pensioners […]

ABHISEK RAJPUT

July 24, 2024

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Budget Has Given New Incentives To Taxpayers For Filing Tax Returns Under The New Tax Regime | Personal Finance News

New Delhi: The union budget announced yesterday has given additional incentives to taxpayers who choose the new tax regime to file their returns. The finance minister says over two-thirds of the taxpayers have chosen the new tax regime in FY23 to file their tax returns. Under the proposed provisions, if a salaried or a retired […]

ABHISEK RAJPUT

July 24, 2024

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New Capital Gains Tax Regime In Budget 2024: All Your Questions Answered By CBDT | Personal Finance News

New Delhi: The Central Board of Direct Taxes (CBDT) on Thursday issued FAQs to explain the new capital gains tax regime in Budget 2024-25.  Q: What are the major changes brought about in the taxation of capital gains by the Union Budget 2024-25? A: The taxation of capital gains has been rationalised and simplified. The […]

ABHISEK RAJPUT

July 25, 2024

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Union Budget 2024: Here’s How New Capital Gain Proposal Helps Investors Save Tax | Personal Finance News

New Delhi: The proposal to remove indexation benefit in the long-term capital gain calculation in the Union Budget 2024-25 will ultimately be beneficial to investors, the Centre has said As Finance Minister Nirmala Sitharaman’s proposal sparks debate, Revenue Secretary Sanjay Malhotra during a media interaction explained how it is beneficial to investors. Malhotra said, “If […]

ABHISEK RAJPUT

July 24, 2024

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