Seven persons were killed, 3 others injured in lightning strike in Chhattisgarh’s Balodabazar-Bhatapara district on Sunday, officials said. Balodabazar-Bhatapara district administration said the incident took place Sunday evening in Mohtara village when the victims were working in a field. “As per preliminary information, these persons gathered at the edge of a pond near their field…
Union Finance Minister on Tuesday responded to Budget 2024-25 debate in Lok Sabha and said that India is the fastest growing economy, adding that the country has overcome after-effects of pandemic due to capex push. The Finance Minister also took a swipe at Opposition parties for alleging that Opposition parties were not named in the…
On July 23, 2024, Mint reaffirmed its position as a premiere platform for Union Budget insights, drawing an impressive 6.24 million visitors on web. This remarkable engagement eclipses other prominent financial news platforms, with Moneycontrol garnering 4.39 million visitors, Economic Times reaching 5.35 million, and Business Today with 1.65 million. The figures speak volumes about…
New Delhi: Simplification of direct and indirect tax regimes was the focus of the Union budget for FY25, senior finance ministry officials said on Friday. The goal of the government was not to increase or reduce taxes, but to simplify the process of paying taxes for individuals and businesses, to promote ease of doing business…
Budget 2024: Central Board of Direct Taxes (CBDT) chairman Ravi Agrawal has said the comprehensive review of the Income Tax Act, 1961 is an attempt to make the “bulky” law “simpler” for taxpayers. Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget for fiscal year 2024-25 on July 23, announced that the government would…
Union Minister Nirmala Sitharaman tabled the Finance Bill in the parliament as part of the Union Budget 2024-25, which included an amendment to the Black Money Act. Central Board of Direct Taxes (CBDT) Chairman Ravi Agarwal stated on 25 July that the amendment in the Black Money Act would provide taxpayers relief from penalty when…
MUMBAI : Union finance minister Nirmala Sitharaman introduced several measures in the Budget for 2024-25 to ease taxpayer compliance. Key proposals include reducing the reassessment period for old income tax returns (ITRs), relief for residents holding foreign assets, and decriminalising delays in TDS payments. Shorter reassessment periods Sitharaman announced that ITRs can be reopened after…
As promised in the Interim Budget 2024-2025 by finance minister Nirmala Sitharaman, it was heartening to see the detailed and comprehensive road map for Viksit Bharat in the full budget. Overall, the Budget 2024 has been an inclusive one, listing out nine priority areas. In fact, inspired by Prime Minister Narendra Modi’s vision, FICCI’s four…
The overarching theme of the Union Budget 2024-25 strikes a fine balance between addressing the pressing bottlenecks impacting economic growth, boosting the startup ecosystem, and laying the groundwork for a future-ready India. Tax relief, employment and green energy transition have emerged as some of the most important areas, sending a message of resilience, foresight and…
On July 23, 2024, Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in the Parliament, announcing modifications to direct taxes. One notable highlight of the Union Budget 2024-25 is the 50% rise in the standard deduction, now up to ₹75,000. This is a beneficial move for salaried taxpayers, particularly those choosing the new tax…
