Budget 2024 explained: What is direct tax, income tax and how are they imposed?
10 months, 3 weeks ago

Budget 2024 explained: What is direct tax, income tax and how are they imposed?

Hindustan Times  

As the country awaits Interim Budget 2024, taxes are an area of great interest in the budget speech which will be made by Union Finance Minister on February 1 in the parliament. Budget 2024: Direct Tax is a tax paid directly by individuals or organisations based on their earnings. Direct tax is a tax paid directly by individuals or organisations based on their earnings to the government. Other than income tax, direct taxes also includes taxes like gift tax, wealth tax, capital gains tax, etc. Capital gains tax is a form of direct tax that is paid on income earned from the sale of assets or investments.

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Your Union Budget 2024 cheatsheet: Direct, indirect taxes and what you must look for
5 months, 2 weeks ago

Your Union Budget 2024 cheatsheet: Direct, indirect taxes and what you must look for

Hindustan Times  

What are direct taxes? The slabs for the new tax regime are as follows: Up to ₹3 lakh: NIL ₹3-6 lakh: 5% on income which exceeds ₹3 lakh ₹6-9 lakh: ₹15,000 + 10% on income more than ₹6 lakh ₹9-12 lakh: ₹45,000 + 15% on income more than ₹9 lakh ₹12-15 lakh: ₹90,000 + 20% on income more than ₹12 …

Budget 2024: No change in direct taxes. What does it mean for India's middle class?
10 months, 3 weeks ago

Budget 2024: No change in direct taxes. What does it mean for India's middle class?

Hindustan Times  

Union finance minister Nirmala Sitharaman on Thursday said that the government won't propose any changes to taxation and will retain the same tax rates for direct taxes and indirect taxes including import duties. Finance Minister Nirmala Sitharaman chose not to increase, or decrease, income tax liability on the middle class. "Keeping with the convention, I do not propose to make …

Budget 2024: What are direct taxes? Types and significance
11 months, 2 weeks ago

Budget 2024: What are direct taxes? Types and significance

Hindustan Times  

For the sixth consecutive year, Union minister Nirmala Sitharaman is set to present the Budget for the fiscal year 2024-25 on February 1. Examples of direct taxes include income tax, real property tax, personal property tax, and taxes on assets. Difference between direct and indirect taxes A direct tax is the opposite of an indirect tax, wherein the tax is …

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