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Ashneer Grover said that politicians can say anything on tax in a political rally and get away with it because only 0.5 percent of voters pay any meaningful income tax . ....
Income Tax Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman will present the interim budget for fiscal year 2024-25 on February 1, 2024. By definition, it will be a Vote on Account ahead of the Lok Sabha Elections scheduled later in April-May this year. Traditionally, the central government does not announce any significant reforms in the Votes on Account. "In Votes on Account, the tax structures and rates are generally not revised and significant changes to taxation are usually proposed in the subsequent full budget presented by the newly elected government," says Dr. Suresh Surana, Founder, RSM India. However, hopes are high from Sitharaman s last budget as middle-class taxpayers are eagerly waiting for some much-needed relief. More deductions in the new income tax regime, a hike in the standard deduction limit, and simplification of the capital gain tax regime are some of the demands of Indian income taxpayers from Budget 2024. 1) Tax deduction for contributin ....
State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. In this newsletter edition, we will briefly. ....
Rising costs of living, falling income and mass layoffs across industries have significantly dented the growth of the aspirational middle class, and threaten to significantly disrupt the growth of the Indian economy in FY24. Here's what the middle class can expect. ....