Ad free CAclubindia and daily updates on your mobile. Subscribe Now!

EASYOFFICE

EASYOFFICE

24-25

ramasubramanian srinivasan (48 Points)

23 July 2024

Share with me the Synopsis of the union Budget 2024-25.

Reply
Follow
Share

1 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (4778 Points)
Replied 24 July 2024

Here is a detailed synopsis of the Union Budget 2024-25 ¹: *Tax Announcements* - *New Tax Regime*: New tax slabs announced with no tax up to Rs 3 lakh income, 5% for Rs 3-7 lakh, 15% for Rs 10-12 lakh, 20% for Rs 12-15 lakh, and 30% for above Rs 15 lakh. - *Standard Deduction*: Raised from Rs 30,000 to Rs 75,000 under the New Tax Regime. - *Capital Gains Tax*: Simplified with short-term capital gains reduced to 20% and long-term capital gains to 12.5% for some assets. - *Securities Transaction Tax (STT)*: Increased to 0.1% from 0.0625% on the sale of an Option. *Job Incentives* - *Employer NPS Deduction*: Increased to 14% from 10%. - *Job Creation*: Allocation of Rs 2 lakh crore for job creation over 5 years. - *New Employment Skilling Scheme*: To provide skills to 20 lakh youth in 5 years. *Other Key Highlights* - *Custom Duty*: Reduced on gold, silver, and platinum, and increased on specified telecom equipment and non-biodegradable plastics. - *Fiscal Deficit*: Projected to be 4.9% of GDP for the current fiscal year, with a target to reduce it to 4.5% by the end of next year. - *Infrastructure*: Capital expenditure outlay maintained at Rs 11.1 lakh crore, with a record allocation of Rs 2,62,200 crore for railways.

Upgrade to CAclubindia Pro. Subscribe Now!

Join CCI Pro

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

CCI Pro

Trending Online Classes

GST Live Certification Course (40th Batch)(With Certificate)

Industry Expert

Enroll Now

17 November 2024
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India

Mr.Balamurugan Ranganathan

Enroll Now

08 November 2024
Certification Course on Chat GPT and AI Tools for Professionals

CA Deepak Gupta

Enroll Now

05 November 2024

view all classess

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads

Recent Posts

Unreplied Threads

Settings