#Budget2024 Highlights so far:
#1 📜 | 12.5% Tax on Long-Term Gains; ₹1.25 Lakh Exemption
-Long-term capital gains on all financial and non-financial assets will attract a tax rate of 12.5%. Additionally, the exemption limit for capital gains will be set at ₹1.25 lakh per year.
#2 📜 | TDS on E-commerce 0.1%; Higher STT on F&Os
1. TDS rate on e-commerce operators to be reduced to 0.1 percent from 1 percent.
2. STT on F&Os proposed to be increased to 0.02% and 0.01%, respectively.
#3 📜 | Corporate Tax for Foreign Firms Now 25%
-The corporate tax rate on foreign companies was reduced to 25%.
#4 📜 | Standard Deduction Raised to ₹75,000
-Finance Minister announces changes in new tax regime -- Standard deduction proposed to increase to ₹75,000 from ₹50,000.
#5 📜 | #MarketUpdate
✅ Short-term capital gains raised to 20% from 15%
✅ Long-term capital gains to 12.5 % from 10%
✅ Increase STT on F&O to 0.02% and 0.01% respectively
✅ Income from buyback to be taxed
✅ 20% TDS on repurchase by MF or UTI withdrawn
✅ Unlisted bonds, debentures, debt mutual funds, and market-linked debentures are to be taxed at a slab rate.
#Budget360 #Budget #NirmalaSitharaman #BudgetSession #MotilalOswal #Budget2024 #1 #2 #3 #4 #5 #MarketUpdate #Budget360 #Budget #NirmalaSitharaman #BudgetSession #MotilalOswal
Posted On: 23 Jul 2024 5:05 PM
