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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.
The budget 2022 season relies on people and similar to every year the experts from the sectors are sharing their list of wants within the Finance minister towards her acknowledgement. The education industry requires more attention because it influences the development and prosperity of the country. In the former budget, the government has made a […]
Union budget 2022-23 is to be addressed by Finance Minister Nirmala Sitharaman dated 1st Feb 2022 in a paperless form. At the end of the budget, the Sweets gets distributed to the core staff but this would not take place because of the pandemic and the covid protocols. The staff is needed to go through […]
FM Nirmala Sitharaman would present her 4th Budget for India. In the ongoing pandemic, inflation is rising and the coming budget 2022 seems to disclose actions to mitigate the Covid-19 impact on the economy. At this time FM Sitharaman was required to raise more resources via taxes and non-tax revenues. But experts and salaried class […]
To provide support to the small business and makes the entrepreneurs strengthen the union budget 2022-23 must begin to start the other Indian startup-friendly schemes and exemptions in tax for simplifying the business, innovation spending, and diminishing the compliance costs. Upgraded reforms, policy assistance, and support mechanisms to build effective solutions for the incompleted fiscal […]
The insurance industry is going from a typical time where the life insurance claims increase because of covid-19. The increase in the claims and the attendant payouts which life, as well as medical insurance firms, suffer 30% surge in premiums as reinsurers see towards recovering the losses. But the insurance premiums in India are still […]
As retail sectors are on the path of recovery but due 2nd half of FY22 rising Omicron cases have backed out the recovery again. The retail sector is eyes on the budget for good hope in the current uncertain territory. Seeing the rise in the cases and the increasing omicron variant the government must circulate […]
On Feb 1, 2022, Finance Minister Nirmala Sitharaman would announce Union Budget 2022-23 MSMEs are urging the government to seek the recovery of the sector GST reduction, relaxation in compliance, discuss the problems of late payments and simplicity of the access to capital. It is to be urged by the central government to focus on […]
The All India Gem and Jewellery Domestic Council (GJC) requested the government to diminish the rate of GST (goods and services tax) to 1.25%. Inside the pre-budget 2022-23 suggestions to the central finance minister Nirmala Sitharaman said that GJC seeks the cumulative GST rate with 1.25% relied on the revenue equivalence principle on gold, precious […]
The majority body Federation of Automobile Dealers Association (FADA) showing the automobile dealers and retailers towards the country provided its suggestions to assist the automotive industry in the coming Union budget. “We urge the government if the concerns are accommodated in the upcoming budget this could reenergize the auto retail trade, which in turn will […]