Budget 2025 Highlights: Finance Minister Nirmala Sitharaman announced zero tax for incomes up to Rs 12 lakh under the new regime. Capital expenditure set at Rs 11.2 lakh crore, with a 4.4% fiscal deficit target. Focus on **economic growth, job creation, and Viksit Bharat roadmap. Stay updated with key announcements! ????
India's net direct tax collections surged by 17.7% year-on-year to Rs 19.58 crore in fiscal year 2023-24, exceeding revised estimates by Rs 13,000 crore, reflecting economic buoyancy and rising income levels. Gross direct tax collections (provisional) for FY 2023-24 rose 18.48% to Rs 23.37 lakh crore, with refunds totaling Rs 3.79 lakh crore.
CBDT mandated SROs to report high-value transactions by June 30. 6,000 entities failed to comply, lacking data. Form 61A enforcement in progress for Income Tax Act adherence.
With the deadline of March 31, 2023 fast approaching, several critical tasks must be completed to avoid potential headaches in the upcoming financial year. Here are some of the key ones you need to accomplish:
In recent years, India has elevated to a stage where it has acquired the status of having the world’s largest overseas diaspora, with approximately 32 million NRIs and OCIs.