The government has increased the LTCG profit tax from 10% to 12.5%, but now you can save more on your investments. Today’s budget news
Nirmala Sitharaman presenting Budget 2024
Also, they have raised the exemption limit. This is for the tax on long-term capital gains. It went from ₹1 lakh to ₹1.25 lakh.
Today’s budget news
Let’s talk about the percentage of tax deducted from income.
The coming personal income tax rates will increase for salaries of 50,000 to 75,000. The salaries of employees under Govt Security will increase. The family pension will increase from 15,000 to 250,001. The fiscal deficit estimate came down to 4.9% vs. 5.1%. Cut the gold and silver tax to 6%. If income is between zero and 3 lakh, the government will not tax it. If income is between 3 lakh to 7 lakh, the tax is 5%. If income is between 7 lakh to 10 lakh, the tax is 10%.Today’s budget news
Today’s budget news
If your income is 10 to 12 lakhs, the government taxes it at 15%. If your income is 12 to 15 lakhs, the government taxes it at 20%.
If your income is above 15 lakhs, then the government has to pay 30% tax.
The Credit Guarantee MSME Scheme covers up to Rs. 100 crore. The loan limit will increase from 10 lakhs to 20 lakhs. TDS on e-commerce operators fell from 1% to 0.1%.
2 of the best temples in Indian tourism are the Vishnupad temple in Gaya and the Mahavali temple in Bihar. The Vishnupad temple is one of India’s oldest and most beautiful tourist attractions. The budget for the successful Kashi Vishwanath temple from 2024 to 2025 was 32.07 lakh crore. Then, it was 48.21 lakh crore. They received 25.83 lakh crore in net tax receipts.
Nirmala Sitharaman
Security costs will be 4.9% of all Indian GDP from 2024 to 2025, totaling 14.01 lakh crore and 11.06 lakh crore. The government will tax short-term gains on some financial assets at a rate of 20%. The regular rates will tax the rest. Futures and options traders will pay the Securities Transaction Tax of 0.02%.
