As of July 22, 2024, some four crore people had filed income tax returns (ITR), and chartered accountants and tax-filing websites played a major role in helping them do so.

Union Finance Minister Nirmala Sitharaman announced increasing the deduction on family pension for pensioners and salaried individuals from Rs 15,000 to Rs 25,000.

However, it must be noted that the net payroll addition under EPFO in FY24 at 131.5 lakh was slightly lower than 138.5 lakh in FY23.

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

The decision to write off disputed tax demands up to Rs 25,000 is expected to benefit many senior citizens impacted by the unresolved tax issues raised by the Income-tax Department.

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.

The Centre has extended a one-time opportunity to select government employees to switch from the new pension scheme to the old pension scheme. But once opted, they cannot reverse to NPS again