Budget 2024: Finance Minister Nirmala Sitharaman will be presenting the Union Budget for 2024-25 later this month. Since the beginning of this year, taxpayers have been expecting some relief and concession on the tax front. But were disappointed in the Interim Budget as the finance minister proposed to retain the same tax rates for both … Read more
New Delhi: The government is unlikely to raise the allocation for its key tax remission schemes for exporters in the full budget for 2024-25 amid demand for increased support from the exporting community, senior officials said. In the interim budget presented in February, the government earmarked ₹16,575 crore for the Remission of Duties and Taxes … Read more
New Delhi: The central government’s fiscal deficit, in absolute terms, could be slightly better than the revised estimates for FY24, on the back of better than expected revenue receipts, an official said. In the interim Budget in February, the government pegged its FY24 fiscal deficit at ₹17.35 lakh crore, against the budget estimate of ₹17.89 … Read more
Indian government expenditure needs to be focused on development given the growth needs and the interim budget intentions signal that the general government debt-GDP ratio could decline to 73.4 per cent by 2030-31, around 5 percentage points lower than the IMF’s projected trajectory of 78.2 per cent, a research paper by RBI showed. “With recalibration … Read more
This year’s interim budget has come on the back of a turbulent global economic environment marked by slowing global growth and rising volatility. Against this backdrop, Finance Minister Nirmala Sitharaman has very nicely balanced fiscal discipline, welfare necessities and inclusive economic growth. To everyone’s very pleasant surprise, the balance between economic growth and fiscal consolidation … Read more
The decision to extend tax benefits that were set to expire in FY24 by a year will provide global investors and eligible companies with the clarity and certainty they need to enhance investment and operational planning, experts said. Eligible startups, sovereign wealth funds, pension funds, and units in the International Financial Services Centre (IFSC) GIFT … Read more
Companies with branches in multiple cities will now need to register for input service distribution (ISD) to claim input tax credit for services provided by the head office to the branch office, a move expected to reduce disputes significantly.The interim budget proposed to make this rule mandatory, besides the requirement of a separate registration that … Read more
New Delhi: The government has prioritised the development of micro, small and medium enterprises (MSME) to allow them to grow and compete globally, finance minister Nirmala Sitharaman said Thursday. “It is an important policy priority for our government to ensure timely and adequate finances, relevant technologies and appropriate training for the Micro, Small and Medium … Read more
Be it an interim one or the actual Union Budget, equity markets witness their share of volatility in the run-up as well as post the big event. A look at the domestic market performance atleast a week prior to the Budget presentation over the last 5-6 years showed that caution and a certain level of … Read more
Union Budget 2024: India could announce a social security fund for the labourforce in the unorganised sector as well as gig and platform workers in the interim budget to be presented by finance minister Nirmala Sitharaman on February 1. The fund, proposed in the Social Security Code, 2020, would be a step toward universal social … Read more