- The Indian lower house of Parliament is considering the 2024 Finance Bill
- The bill includes measures to extend tax benefits for start-ups
- The previous tax rates for direct and indirect taxes will be retained
- Outstanding direct tax demands will be withdrawn for certain financial years
- Surcharge rates will be established for individuals, associations, co-operative societies, and domestic companies
- Income tax rates and deductions will be provided for the 2024-2025 assessment year
- GST rules for input service distributor will be clarified and penalties for noncompliance will be established.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
