Budget 2024, the 7th in a row for honorable Finance Minister, added wheels to the country’s journey from Vikasheel Bharat to ‘Viksit Bharat’, focusing on key sectors crucial for India exponential growth and development narrative. A sharp focus on pioneering innovation, augmenting infrastructure, capacity expansion, enhancing skill building and productivity – all with a view to bring India at the front and center. Talking of tax, the proposals clearly insinuate a strong commitment towards rationalizing the taxation ecosystem, reducing uncertainty and enhancing the country’s position as an attractive investment jurisdiction.
A snapshot of some key direct tax take aways from the Budget is presented below: