Budget 2023-24

टैक्सपेयर्स को राहत: केन्‍द्रीय बजट 2023-24 की मुख्‍य बातें

केन्‍द्रीय वित्त एवं कॉरपोरेट कार्य मंत्री श्रीमती निर्मला सीतारमण ने आज 01 फरवरी, 2023 को संसद में केन्‍द्रीय बजट 2023-24 पेश किया। बजट की मुख्‍य बातें बातें इस प्रकार से हैं: भाग-अ बजट 2023-24 में कुल प्राप्तियां और कुल व्यय क्रमशः 27.2 लाख करोड़ रुपये और 45 लाख करोड़ रुपये होने का अनुमान लगाया गया है। निवल …

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HIGHLIGHTS OF THE UNION BUDGET 2023-24

Posted On: 01 FEB 2023 1:35PM by PIB Delhi The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament today. The highlights of the Budget are as follows: PART A · Centre to recruit 38,800 teachers and support staff for the 740 Eklavya Model Residential Schools, serving …

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MAJOR ANNOUNCEMENTS IN PERSONAL INCOME TAX TO SUBSTANTIALLY BENEFIT THE MIDDLE CLASS [ Govt press release ]

With the objective of benefitting the hard working middle class of the country, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitaraman made five major announcements with respect to personal income tax while presenting the Union Budget 2023-24 in Parliament today.  These announcements pertaining to rebate, change in tax structure, extension of benefit of …

MAJOR ANNOUNCEMENTS IN PERSONAL INCOME TAX TO SUBSTANTIALLY BENEFIT THE MIDDLE CLASS [ Govt press release ] Read More »

Income Tax Budget 2023: If income tax relief is given in new tax regime will old tax regime continue?

If media reports that the new tax regime is likely to be made more attractive in the coming budget 2023 prove correct, then it is likely that this may also signal the end of the old tax regime. This appears the logical consequence of sweetening the new ‘concessional tax regime’ by introduction of a few …

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First Big announcement in the budget 2023

Free food distribution will continue till 2024 Presenting the budget, Finance Minister Nirmala Sitharaman said that this is the first budget of Amrit Kaal. The Economic Survey estimates that this year’s growth rate will be 7 percent. Per capita income has doubled in nine years and the budget is being presented with the aim of …

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Expected Impact of Budget 2023 on Personal Tax

Expected Impact of Budget 2023 on Personal Tax: There are more than 80 million taxpayers in India, and salaried employees are the biggest contributors to taxes. The following are the expectations on the personal tax space from the FM: 1. Changes in Valuation u/s 17(2) of Company Owned Accommodation – The taxable value of residential accommodation owned by a …

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ECONOMIC SURVEY 2022-23 ILLUSTRATES SIGNIFICANT IMPROVEMENT IN QUALITY OF RURAL LIVES; HEALTH INDICATORS REGISTER UPTICK

The Economic Survey 2022-23 tabled today by Smt Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs has illustrated a significant improvement vis-à-vis 2015-16 in an array of indicators concerning the quality of rural lives, of which most health indicators have registered an impressive uptick.  These outcome-oriented statistics establish tangible medium-run progress in rural living …

ECONOMIC SURVEY 2022-23 ILLUSTRATES SIGNIFICANT IMPROVEMENT IN QUALITY OF RURAL LIVES; HEALTH INDICATORS REGISTER UPTICK Read More »

Services sector witnessed a swift rebound in FY22, growing Year-on-Year (YoY) at 8.4%

SERVICES SECTOR GREW AT 8.4 % (YoY) IN FY 22 SECTOR EXPECTED TO GROW AT 9.1 % IN FY 23 US$ 7.1 BILLION FDI EQUITY INFLOWS IN SERVICES SECTOR BANK CREDIT TO SECTOR GREW AT 21.3% IT-BPM REVENUES REGISTERED GROWTH OF 15.5 % ₹1 LAKH CRORE WORTH ANNUAL PROCUREMENT THROUGH GeM INDIA RANKED 10th OUT …

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New Income Tax regime needs these slab & exemption changes

Budget 2023 income tax: Finance Minister Nirmala Sitharaman should include certain long-term exemptions under the new income tax regime to make it more attractive for individual taxpayers, says Parizad Sirwalla of KPMG. In an interview with TOI, the Partner and Head, Global Mobility Services – Tax, KPMG in India listed out steps that Union Budget 2023 can take on …

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Inviting For Mega Seminar & Networking Meet- Union Budget 2023

Dear CA/CS/CMA/Tax professional friends Pls register yourself for Mega Budget seminar cum Networking meet on 2nd Feb, Thursday at Pyare Lal Bhawan, ITO Registration link / formhttps://forms.gle/MnczFYZ7yEugZaP66 Full day Networking at no participation cost followed by lunch, more than 1000 professionals would be there. Event Timing: February 2nd, 2023, 10.30 am to 5pm  Chief Guests: …

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Final stage of Union Budget 2023-24 commences with Halwa Ceremony

The Halwa ceremony, marking the final stage of the Budget preparation process for Union Budget 2023-24, was held in North Block, today afternoon, in the presence of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman and Union Ministers of State for Finance Shri Pankaj Chaudhary and Dr. Bhagwat Kisanrao Karad. A customary Halwa ceremony …

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Budget 2023 expectations highlights: Change in tax slabs, interest sops for home buyers

Budget 2023 Expectations Highlights: Given that it’s her last big spending opportunity before next year’s general elections, it won’t be unreasonable to expect Finance Minister Nirmala Sitharaman to sprinkle the February 1 Union Budget with a dose of populism.  India’s salaried expect the finance minister to provide healthcare, savings and housing sops in a post-pandemic, high inflation …

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Nirmala Sitharaman shares her plan for the middle class

Finance Minister Nirmala Sitharaman said the central government will continue to work for the middle class, as she gears up to announce the Union Budget 2023 in less than three weeks. Sitharaman said she belongs to a middle class family and understands the pressures they face, adding that the BJP-led NDA government has not imposed …

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List of Expectations From Budget 2023

biggest expectations surrounding direct and indirect taxes in 2023. Expectations of the common man The basic exemption limit has not been changed for close to ten years now. The government instead gradually increased the amount of rebate a taxpayer can claim on incomes earned below Rs.5 lakh per annum. A new tax regime was also …

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New income tax regime could get some fresh tweaks in the upcoming Union Budget 2023

The new income tax regime introduced by the central government over two years ago could get a fresh makeover in the upcoming Union Budget 2023 to attract more taxpayers. A majority of salaried taxpayers have steered clear of the optional tax regime despite lower tax rates as they are not eligible to opt for around …

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Finance Minister gave GOOD NEWS before the budget 2023

Before Budget 2023, Finance Minister Nirmala Sitharaman has given gifts to senior citizens. Under this, senior citizens above 75 years of age, who have only pension and bank interest as their source of income, will get the benefit of this relief. That means they have to file income tax now. will not be needed. As …

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INCOME TAX RETURN

Budget may tweak new I-T regime, bring new ITR form

Budget may see changes in the new income tax regime which prescribes lesser tax but without any exemption. It is also expected to lay the roadmap for implementing the new Income Tax Return form. Finance Minister Nirmala Sitharaman, in her Budget speech of FY21 announced a new and simplified personal income tax regime wherein income …

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Govt Inviting your Ideas and Suggestions for Union Budget 2023-2024

To foster the spirit of ‘Jan Bhagidari’ , the Department of Economic Affairs, Ministry of Finance invites suggestions from citizens every year, to make the Budget-making process participative and inclusive. The Ministry looks forward to your ideas and suggestions for the Union Budget 2023-2024, Please share your ideas and suggestions that can help transform India …

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Government has started matching information with data from third-party sources for direct taxes

Revenue secretary Tarun Bajaj says the government has started matching information with data from third-party sources for direct taxes. Revenue secretary said the tax base has to widen before Centre can lower personal income tax rates. The Union government has managed to increase revenue by encouraging taxpayers to file updated tax returns where the income …

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Budget 2023-24: Smt. Nirmala Sitharaman concludes pre-Budget meetings for forthcoming Union Budget 2023-24

Union Finance Minister Smt. Nirmala Sitharaman concludes pre-Budget meetings for forthcoming Union Budget 2023-24 Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired the pre-budget consultation meetings for Budget 2023-24 held in virtual mode from 21st to 28th November, 2022. The pre-budget meeting were concluded here today. More than 110 invitees representing 7 …

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