CBDT Chairman Ravi Agrawal assured that the task of reviewing the Income Tax Act of 1961 would be completed in the given timeframe of six months.

The newly formed government has a huge opportunity to set the ball rolling on key reforms and initiatives for a supportive and age-friendly environment for the elderly.

The Central Board of Direct Taxes (CBDT) set the outstanding tax waiver limit at Rs 1 lakh after Financial Minister Nirmala Sitharaman announced relief in the interim budget FY2024-25.

Union Finance Minister Nirmala Sitharaman sought a huge boost for the country’s spiritual tourism economywith a higher outlay in the budget.

A provision of Rs 75,000 crore is proposed as a 50-year interest-free loan this year to support the milestone-linked reforms by the state governments, Sitharaman said.

The budget will foster inclusive growth, providing opportunities for women, the middle class, youth, senior citizens and the underprivileged through various schemes, Sitharaman sai

Finance Minister Nirmala Sitharaman, in the interim budget 2024, proposed to withdraw outstanding tax demands of up to Rs 25,000 for the ease of taxpayers.