Budget 2024: Fada seeks vehicle depreciation benefits for income tax payers

Q: How long will it take to read this news story?

The story "Budget 2024: Fada seeks vehicle depreciation benefits for income tax payers" has 302 words across 11 sentences, which will take approximately 2 - 3 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Budget 2024: Fada seeks vehicle depreciation benefits for income tax payers" was covered 2 weeks ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 100 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #21583430</li><li>URL: https://beamstart.com/news/budget-2024-fada-seeks-vehicle-17207791594090</li></ul>

Business Standard Logo Business Standard 2w ago

Budget 2024: Fada seeks vehicle depreciation benefits for income tax payers - Business Standard

Quick Summary:

Automotive dealers body FADA on Friday urged the government to introduce vehicle depreciation benefits for individual taxpayers, saying it will not only expand the taxpayer base but also ignite automobile demand.

In its pre-budget wishlist, the Federation of Automobile Dealers Associations (FADA) also asked the finance ministry to reduce corporate tax for LLPs, proprietary, and partnership firms.

"We urge the finance ministry to introduce the benefits of claiming depreciation on vehicles for individuals paying income tax," FADA President Manish Raj Singhania said in a statement.