Budget impact: Direct tax proposals are futuristic and far reaching

Tax exemption on withdrawal from NPS at the time of closure or opting out will be enhanced from 40% to 60%

Budget: Fiscal deficit under control, courtesy healthy non-tax revenues

Direct taxes   The finance minister presented the first Union Budget of the re-elected government with the aim of stimulating growth, incentivising affordable housing, encouraging start-ups, promoting digital economy, simplifying tax administration and bringing in transparency.   Beneficial measures for the common man The Budget proposes various measures having far reaching impact.   For the first time, interest paid on loan for purchasing e-vehicle will be tax deductible up to Rs 1,50,000 p.a. This proposal has multiple benefits – pollution control (Air Quality ...