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The full budget 2024 will present in July to the general public as well as corporations.
Here SAG Infotech brings the complete news and relevant articles based on the budget 2024 which will give further insight into the expectations versus the reality of the budget for the common man. SAG Infotech will continue updating the section with timely updates on budget 2024.
1. Changes In New Income Tax Regime Slab
0-3 lakh : Nil
3-7 lakh: 5%
7-10 lakh: 10%
10-12 lakh: 15%
12-15 lakh: 20%
Above 15 lakh: 30%
2. Standard deduction to be increased to Rs 75,000 in new tax regime
3. Exemption of capital gains increased to Rs 1.25 lakh per year for certain assets
4. An assessment can be reopened after three years only if escaped income is Rs 50 crore or more
5. Govt proposes to increase tax deduction on family pension for pensioners to Rs 25,000 from Rs 15,000.
Budget 2022 has tightened laws for non-income tax return filers. In the present times when the person does not furnish the ITR for the former 2 years and the TDS and TCS in the said years more than Rs 50000, an individual is subjected for TDS or TCS with the higher rates in the ongoing […]
The changes drawn in the GST law under the finance bill 2022 can bring the cash inflow to the businesses and make the provision for the taxpayers to be accurate with their Input tax credit report when they file the returns. The amendments asked in the Union GST act sections concerning Input tax credit have […]
The CBIC department has come up with a free webinar for all the taxpayers and assesses. The presentation is to be carried out by a Question and Answer (Q&A) session. The same would be helpful for the trade, industry, professionals, and officers. The webinar is absolutely free for the people and anyone can join to […]
Everyone was concerned about the union budget 2022 and now it is finally out. FM Nirmala Sitharaman reflects various reasons for an effective future. The budget speech and the economic survey in 2021 show the economic revival of the country after the pandemic. Also, the deficiencies have been diminished, revamp in the foreign exchange reserves, […]
Recently the manufacturers of the auto parts, fasteners and the engineering products allied have a lower perspective towards the budget 2022 as it is created a bad impression on the community. The businessman community has been negative towards the current budget 2022 announcement. The garment industry has also raised its voice against the ignorance of […]
The union budget 2022 has brought multiple proposals as well as amendments to the goods and services tax (GST) law and act. The Nirmala Sitharaman with his 4th union budget presentation made some GST proposals in the parliament in the Finance Bill 2022. Major Key Changes of GST in Finance Bill 2022 Let us check […]
The union budget 2022 has been overall covered by SAG Infotech and our complete team of chartered accountants had come with the basic budget as well as tax-related details from the minute details. The SAG Infotech is dedicated to providing the complete budget news to the assessee and the taxpayers who are concerned with the […]
Budget 2022 is all about to be presented on 1st February 2022 with lots of expectations to be projected on common people demand. The economic survey has defaulted on multiple schemes earlier and now the union finance minister is set to present the same. There are multiple expectations from the budget 2022-23 which will be […]
The budget for 2022 is just approaching and also people have some exceptions from the Hon’ble Finance Minister in GST. the subject is towards the relief for the MSMEs so that the compliance and the concerned cost reduces for MSMEs and they need to provide the simplicity of performing the businesses. The current 3rd wave […]