Budget 2024: Gov To Withdraw Disputed Direct Tax Demand Of Up To Rs 25,000

Interim Budget 2024: Finance Minister Nirmala Sitharaman in her budget speech on Thursday announced the withdrawal of outstanding direct tax demands up to Rs 25,000. These taxes are about the period up to financial year 2009-10. The government proposed a withdrawal of outstanding up to Rs 10,000 for FY 2010-11 to 2014-15.

The Finance Minister said that the move would expected to benefit 10 million (1cr) taxpayers.

While presenting the interim Budget 2024-25, Finance Minister Nirmala Sitharaman announced that the withdrawal of tax demand will benefit one crore taxpayers The government has improved its focus to improve services for taxpayers, the finance minister added.

Also read: Budget 2024: What Is Finance Bill And How Is It Different From Money Bill

Finance Minister also said that the government would set up a high-level committee to consider challenges faced by the fast-growing population.

The union government will encourage vaccination for girls in the age group of 9-14 years to prevent cervical cancer, the Finance Minister announced in her speech.

Also read: 'Budget 2024 10 On 10, Centre Figured Out Winning Formula': Corporate Leaders On Interim Budget