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Union Budget 2024: FM's tax measures seek to widen net, cut litigation

Business Standard LogoBusiness Standard5h ago

Union Budget 2024: FM's tax measures seek to widen net, cut litigation - Business Standard

Quick Summary:

To reduce disputes, the Budget has brought back Vivaad se Vishwas Scheme, a direct tax dispute resolving scheme.

Corporation tax payable by foreign companies has come down from 40 per cent to 35 per cent; and de-penalising of not reporting small foreign assets is up to Rs 20 lakh.

The proposed removal of the 2 per cent levy will come into effect on August 1, 2024.

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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-24 @ 01:30:50 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 690 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21755744

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 388 posts per day

Year Established: 1975

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News Last Updated: 5 hours ago

Coverage Areas: India

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Publisher ID: #49

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