Name: Budget 2024 | "I Propose To Abolish The So-called Angel Tax For All Classes Of Investors": FM
Uploaded: 2024-07-23T13:41:50+05:30
Description: "To bolster Indian start-up ecosystem, support innovation, I propose to abolish the so-called Angel tax for all classes of investors": FM Sitharaman

Budget 2024: Salaried employees under new tax regime to save up to Rs 17,500 annually in taxes due to changes proposed in Budget FY25, announced Finance Minister Nirmala Sitharaman on Tuesday.

Salaried Employees Under New Tax Regime To Save Rs 17,500 Annually In Taxes: FM

Finance Minister Nirmala Sitharaman on Tuesday brought cheer for start-ups as she abolished angel tax in the Union Budget 2024-25 for all classes of investors.

Budget 2024: Good News for Start-Ups as Nirmala Sitharaman Scraps Angel Tax. Here's What It Means

Highlighting the vision for a ‘Viksit Bharat’, or developed India, in the Union Budget 2024-25, finance minister Nirmala Sitharaman on Tuesday (July 23) highlighted nine priorities for generating ample opportunities in the economy.

Budget 2024: Sitharaman Outlays Modi Govt's Vision For 'Viksit Bharat' Through 9 Priorities | All You Need To Know

Gold, silver, platinum, mobile phones and cancer drugs are among the items likely to become cheaper with Finance Minister Nirmala Sitharaman announcing relaxation in duties her Union Budget 2024 speech on Tuesday.



Union Budget 2024: Mobile Phones, Shrimp, Gold, Footwear... What is Cheaper, What Gets Costlier | LIVE Updates

In the Budget 2023, under new tax regime, Finance Minister Nirmala Sitharaman had increased the income tax exemption limit by Rs 50,000 to Rs 3 lakh and the rebate under Section 87A of the Income Tax Act, 1961, was also raised from Rs 5 lakh to Rs 7 lakh, meaning that those earning up to Rs 7 lakh do not have to pay any tax under the new regime.



Budget 2024 May Raise Income Tax Exemption Limit to Rs 4 Lakh: Know Current Slabs Under New Tax Regime Vs Old Regime

The Economic Survey 2023-24 has cautioned against including sensitive food commodities like common rice, wheat, and most pulses in futures trading until markets are more developed, even as the government expands the list of commodities eligible for derivatives trading.



Economic Survey Acknowledges Rise Of Retail Investors, IPO Boom; Cautions Against F&O Trading

Finance Minister Nirmala Sitharaman announced an 11.1 per cent increase in Capex outlay to 11.11 Lakh Crore, putting capex outlay at 3.4 per cent of GDP.

Capex Outlay Increased by 11.1%

Finance Minister Nirmala Sithraman said, "Rooftop solarisation will allow 1 crore households to get 300 units of free electricity every month." She added, "This will result in Rs 15,000 to Rs 17,000 savings per year for households."

'Solarisation to allow 300 units for free electricity for 1 cr households'

Finance Minister Nirmala Sitharaman presented Interim Budget 2024 in Parliament today. Beginning her speech highlighting the achievements of the Narendra Modi government, Sitharaman said, "Government is working with the approach of All Round, All Pervasive & All Inclusive Development. We will achieve the goal of Viksit Bharat by 2047."

Will Achieve Viksit Bharat Goal by 2047: FM

While Indian stock markets were choppy in opening trade, they recovered and were trading in green ahead of Interim Budget 2024. At 10:30 am, Sensex was over 230 points higher while Nifty was over 60 points up. 

Stock Markets in Green Ahead of Budget 2024

The Indian Chamber of Commerce (ICC) has suggested the government to rationalise customs duties in various sectors including steel, solar battery, aluminum, and lithium cells in a bid to boost domestic manufacturing.

Govt Should Rationalise Customs Duty In Budget To Boost Domestic Mfg: Indian Chamber of Commerce

The stock market is abuzz with speculation on potential fiscal measures and their impacts ahead of the Union Budget 2024 presentation on July 23.

Defence Stock Picks Ahead of Budget 2024: Analysts' Pick HAL, BEL, Azad Engineering, Others

 The initial public offering (IPO) of plant-based speciality products company Sanstar Limited, which was opened for public subscription on July 19, has received a positive response from investors.

Sanstar IPO Receives Over 13.53x Subscription on Day 2, Check GMP Today

We are in the midst of wedding season, surrounded by the crescendo of ’till death do us part’ vows. In this spirit of togetherness, there is another timeless union that deserves our attention—the union of state and taxes. 

Union Budget and India's Unhealthy Obsession With Income Tax Slabs

Finance Minister Nirmala Sitharaman is going to announce her fourth consecutive budget on February 1, which is going to be an interim budget or vote on account. The Interim Budget 2024 is the last budget before the general elections 2024. Readers can visit here for the Interim Budget 2024 highlights after the budget is announced. Meanwhile, here are 10 key highlights from Budget previous Budget 2023-24.

<p>Stay informed with our comprehensive coverage of <a href="https://www.news18.com/business/economy/budget-2024-live-updates-fm-nirmala-sitharaman-speech-key-announcements-section-80c-tax-relief-union-budget-latest-news-liveblog-8974776.html">Union Budget 2024</a>. Get the latest on new income tax slab rates for AY 2024-25 in <a href="https://www.news18.com/business/tax/income-tax-slabs-2024-25-rates-live-updates-finance-minister-nirmala-sitharaman-budget-home-loan-salaried-employees-new-vs-old-tax-regime-liveblog-8974442.html" >Income Tax Slabs Budget 2024 LIVE Updates </a>. Track the impact of Budget 2024 on the stock market in <a href="https://www.news18.com/business/markets/stock-market-live-updates-union-budget-2024-share-market-sensex-nse-today-nifty-50-stocks-to-buy-today-defence-psu-financial-nirmala-sitharaman-liveblog-8974793.html">Stock Market Budget Day 2024 LIVE Updates</a>.</p>

Budget 2024 | "I Propose To Abolish The So-called Angel Tax For All Classes Of Investors": FM

"To bolster Indian start-up ecosystem, support innovation, I propose to abolish the so-called Angel tax for all classes of investors": FM Sitharaman

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