News & Media 16th Jul 2024
As India prepares for the first Union Budget of the government’s third term, there is heightened anticipation regarding potential reforms in personal taxation. This year, stakeholders are particularly focused on key areas that could impact individuals and senior citizens, as well as influence investment behaviour in capital markets and derivatives trading.
The current tax structure under the simplified tax regime features multiple brackets ranging from 5% to 30%, causing complexity and administrative burden. Authorities are expected to continue focusing on the new regime and may seek to simplify it by consolidating tax rates into broader categories.
Against this backdrop, Rahul Charkha has been quoted in an article, “Budget 2024 Likely to Bring Tax Relief for Middle Class; Here’s What Experts Say” written by Namit Singh Sengar published in News18.