Direct Taxes
- 58 per cent of corporate tax from simplified tax regime in FY23, more than two-thirds taxpayers availed simplified tax regime for personal income tax in FY 24.
- Simplification for Charities and of TDS
- Two tax exemption regimes for charities to be merged into one.
- 5 per cent TDS rate on many payments merged into 2 per cent TDS rate.
- 20 per cent TDS rate on repurchase of units by mutual funds or UTI withdrawn.
- TDS rate on e-commerce operators reduced from one to 0.1 per cent.
- Delay for payment of TDS up to due date of filing statement decriminalized.
- Simplification of Reassessment
- Assessment can be reopened beyond three ....
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Budget 2024-25
- 1 Priority 1: Productivity and Resilience in Agriculture
- 2 Priority 2: Employment & Skilling
- 3 Priority 3: Inclusive Human Resource Development and Social Justice
- 4 Priority 4: Manufacturing & Services
- 5 Priority 5: Urban Development
- 6 Priority 6: Energy Security
- 7 Priority 7: Infrastructure
- 8 Priority 8: Innovation, Research & Development
- 9 Priority 9: Next Generation Reforms
- 10 Indirect Taxes (Sector specific Customs Duty Proposals)
