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Jul 23, 2024 12:37 ISTIncome Tax Slabs Restructuring
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In the Union BudgetSpeech, Standard deduction for those under new regime raised from Rs 50,000 to Rs 75,000
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New tax slabs - No tax up to Rs 3 lakh, Rs 3-7 lakh at 5%, Rs 7-10 lakh at 10%, Rs 10-12 lakh at 15%, Rs 12-15 lakh at 20% and above Rs 15 lakh 30%
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Jul 23, 2024 12:35 ISTReduction of Corporate Tax For Foreign Companies
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Corporate Tax rate on foreign companies reduced to 35% from 40%
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Jul 23, 2024 12:33 ISTAngel Tax Removed
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In the bid to boost startups, FM Sitharaman Announced the removal of Angel tax from all classes of investors.
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Jul 23, 2024 12:08 ISTHousing Mandate for Rural Development
- Special dormitory-type accommodation for industrial workers will be developed in PPP model to boost manufacturing industries.
- This Union Budget gives Rs 10 lakh crore for developing housing for urban poor.
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FM Sitharaman announced that 3 crore additional houses in rural and urban areas will be developed.
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Jul 23, 2024 12:05 ISTSIDBI and Mudra Laon Related Announcements
Major Annoucements by FM Smt. Nirmala Sitharaman:
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MSME Cluster Development Initiative to get a great boost as SIDBI is given mandate to open new branches to serve more MSMEs Directly.
- Mudra Loan Limit is enhanced from Rs 10 Lakh to Rs 20 Lakh.
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