Mundle Venkatraman & Associates

Interim Budget 2024

By: Mr. Prasanna Ravikant Bhat - 5th February, 2024

Share on:

Tax and Compliance Reforms:

There are no changes in direct and indirect tax rates.
The interim budget proposes to withdraw outstanding disputed direct tax demands up to Rs.25,000 pertaining to the period up to F.Y 2009-10 and up to Rs.10,000 for F.Y 2010-11 to 2014-15.
Certain tax benefits to start-ups and investments made by sovereign wealth funds/pension funds, tax exemption of some IFSC units extended upto 31.03.2025. d) Hon FM announced that with the recent introduction of roof-top solarisation scheme, 1 crore households will be enabled to obtain up to 300 units of free electricity every month which will help households to save Rs.15,000-18,000 annually.
The Ayushmann Bharat scheme will be extended to all ASHA and Anganwadi workers. All maternal and child healthcare schemes will be brought under one comprehensive scheme.
Two crore more houses will be built under the Pradhan Mantri Awas Yojana – Grameen in next five years.
Hon FM announced that a new housing scheme will be launched which will help the middle class living in rented or slums or unauthorized colonies to build or buy their own houses.
Three major Railway economic corridors programmes will be implemented. These are energy, mineral and cement corridor; port connectivity corridors and high traffic density corridors. The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity.
States will be encouraged to undertake development of iconic tourist centres to attract business and promote opportunities for local entrepreneurship.
Hon FM announced the extension of key rail infrastructure projects, such as Metro Rail and Namo Bharat, to additional cities. Approximately 40,000 rail bogies will be converted into Vande Bharat coaches.
E-vehicle ecosystem will be expanded and strengthened by supporting manufacturing and charging infrastructure. To promote green growth a new scheme of bio manufacturing will be launched.
A corpus of Rs 1 lakh crore will be established with 50-year interest free loan. The corpus will provide long term financing and re-financing with long tenures at low or nil interest rates.

Disclaimer

The Blogs published in this website are for educational purposes only. It is meant to give you a general information and a general understanding of the topics discussed therein and not to provide you or any person any professional advice thereof. By using this website you understand that there is no professional relationship between you and Mundle Venkatraman and Associates (MVA) or with any of its partners, associates or employees. Any information available on this website should not be used as a substitute for competent professional advice.

Terms of Use

Recent Blogs

Union Budget 2025 – A synopsis about the tax and compliance reforms

By: Priyanka Jain

6th February, 2025

Tax Collection at Source on Outbound Foreign Remittances

By: Priyanka Jain

9th January, 2025

Income Tax Clearance Certificate for travel outside India

By: Gauri Sham Deshpande

27th August, 2024

Union Budget 2024

By: Mr. Prasanna Ravikant Bhat

24th July, 2024

By: Mr. Prasanna Ravikant Bhat

1st December, 2023

Blog on Section 194R along with FAQs

By: Vidhi Vora

27th October, 2023

A note on Bonus Shares

By: Sakina Bohra

2nd June, 2023

Accounting Audit Trail

By: Mr. Prasanna Ravikant Bhat

29th March, 2023

Reporting Requirements u/r 21AAA of the Income Tax Rules by Resident Indians who have retirement benefit accounts overseas.

By: Vidhi Vora

28th March, 2023

Income Tax Deduction Allowed Only On 'Actual Payment' Of Sum Payable by Assesses to MSMEs – Budget 2023 proposal

By: Mr. Prasanna Ravikant Bhat

7th February, 2023

Union Budget 2023

By: Mr. Prasanna Ravikant Bhat

2nd February, 2023

194R TDS on benefit or perquisite in respect of business or profession

By: Mr. Shashank Mundle

20th June, 2022

PAN-AADHAAR Linking

By: Mr. Mohit Shetty

2nd June, 2022

Certificate in Form 10BE for Claiming Deduction u/s 80G

By: Mr. Prasanna Ravikant Bhat

27th May, 2022

Synopsis- Seventh Proviso to section 139(1)

By: Mr. Prasanna Ravikant Bhat

25th April, 2022

UNION BUDGET 2022 – A SYNOPSIS

By: Mr. Vipul J Oza

16th February, 2022

TDS on Software Purchases

By: Vaidehi Nalwaya

3rd December, 2021

Equalization Levy (EL) on Online advertisement or space

By: Vaidehi Nalwaya

3rd December, 2021

Annual Information Statement (AIS)

By: Mr. Prasanna Ravikant Bhat

22nd November, 2021

Section 20 of IFRS for SMEs - FINANCE LEASES

By: Mr. Shashank Mundle

4th October, 2021

Taxation of Rewards earned by Olympic players

By: Mr. Mohit Shetty

9th September, 2021

By: Sakina Bohra

26th August, 2021

Reverse Charge Mechanism (RCM)

By: Vaidehi Nalwaya

22nd July, 2021

Compliance Check for Section 206AB & 206CCA

By: Mr. Prasanna Ravikant Bhat

15th July, 2021

Pre-filling of returns in order to ease the filing of returns

By: Gauri Sham Deshpande

14th May, 2021

How different is the Indian GST from UAE VAT system?

By: Mr. Harshit Mogra

5th May, 2021

All Charitable trusts mandated to obtain re-registration under the Income Tax Act

By: Mr. Shashank Mundle

29th April, 2021

Stamp Duty and Registration of Documents

By: Diptika Jadhav

9th April, 2021

All you need to know about RTI

By: Vaidehi Nalwaya

9th April, 2021

Profession tax enrollment and registration - Applicability in Maharashtra State

By: Mr. Prasanna Ravikant Bhat

19th March, 2021

Composition scheme in GST

By: Yashvi Parikh

19th March, 2021

Section 194Q- TDS on Purchase of Goods

By: Priyanka Jain

15th March, 2021

80E : Deduction on Payment of Interest on Education loan

By: Mr. Vipul J Oza

8th March, 2021

Audit of Society

By: Priyanka Jain

24th February, 2021

Electronic Invoicing under GST: E-invoicing

By: Diptika Jadhav

5th February, 2021

Union Budget 2021 - A Synopsis

By: Mr. Prasanna Ravikant Bhat

2nd February, 2021

ITC Credit eligibility & Rules on ITC credit utilization

By: Diptika Jadhav

1st February, 2021

By: Diptika Jadhav

1st February, 2021

MSME Registration

By: Diptika Jadhav

11th January, 2021

GAFA Tax – Trapping the Tech Giants

By: Mr. Harshit Mogra

28th December, 2020

Foreign Contribution (Regulation) Amendment Act, 2020 ("FCRA 2020")

By: Nikita Theresa Noronha

16th December, 2020

Equalisation levy – Taxation going Digital

By: Nikita Theresa Noronha

10th December, 2020

GST - A Destination Based Tax - Place of Supply Rules

By: Mr. Harshit Mogra

7th December, 2020

Refund Claims under GST for Tax and Input Tax Credit (ITC)

By: Mr. Harshit Mogra

9th November, 2020

Point of Supply

By: Mr. Harshit Mogra

5th November, 2020

An Overview Of Section 206C(1H)

By: Gauri Sham Deshpande

24th September, 2020

General FAQs on Income Tax

By: Mr. Shashank Mundle

25th February, 2020

Using file systems to enhance performance of Income Tax Business Application (ITBA)

By: Mr. Deepak Gupta

17th December, 2019

E Assessment Scheme 2019

By: Mr. Deepak Gupta

6th December, 2019

Income Tax Compounding Fees - 276CC Offences - Nonfiling of returns

By: Mr. Shashank Mundle

13th November, 2019

By: Mr. Shashank Mundle

1st October, 2019

Key Aspects of US Foreign Corrupt Practices Act, 1977

By: Mr. Satish Prabhu

21st August, 2019

Compounding Fees under Guidelines of 2014 and 2019

By: Mr. Deepak Gupta

12th August, 2019

Consequences of not filing your individual income tax return in time

By: Mr. Prasanna Ravikant Bhat

25th June, 2019

Conscience based Business Governance

By: Mr. Deepak Gupta

13th June, 2019

Foreign Account Tax Compliance Act - An overview

By: Mr. Shashank Mundle

12th June, 2019

Useful Links

American Institute of Certified Public Accountants

Association of Chartered Certified Accountants

Chartered Institute of Management Accountants

Federal Reserve Board of USA

Indian GST FAQs

Indian GST Portal

Indian Income Tax

Information System Audit and Control Association

Institute of Chartered Accountants of England and Wales

View All