Finance Minister Nirmala Sitharaman presenting the Interim Budget within the Parliament. (Image: X/@ANI)
Interim Budget 2024: FM Sitharaman mentioned there are not any adjustments in tax charges for direct and oblique taxes, together with import duties.
Budget 2024: Finance Minister Nirmala Sitharaman on Thursday introduced that the federal government has determined to not search reimbursement of earlier and contested direct taxes, amounting to Rs 25,000 or much less, till the conclusion of the monetary yr 2009-10.
While presenting the interim finances 2024 at the moment, FM Sitharaman in her speech mentioned direct taxes demand of as much as Rs 10,000 from the monetary years 2010-11 to 2014-15 may even be withdrawn.
“This will benefit about one crore taxpayers,” Sitharaman highlighted.
Sitharaman additionally mentioned there are not any adjustments in tax charges for direct and oblique taxes, together with import duties.
She additionally mentioned the variety of tax filers has swollen 2.4 instances and the direct tax assortment has trebled since 2014.
The processing time of tax returns has been decreased from 93 days in FY14 to 10 days and refunds have been made sooner, she mentioned.
