Pwc India

Union Budget 2024-25: Emphasis on bringing simplicity in direct tax system

Tax proposals aim to bring in uniformity, improve compliance and reduce litigation

Union Budget 2024-25: Govt aims on strengthening social sector reforms

Budget's focus is to create jobs and improve workforce skills

Union Budget 2024-25: Lightening the indirect burden on taxpayers

The Budget has taken up several welcome measures for their benefit and overall trade facilitation

Direct tax: Budget gives a blueprint for sustained high-growth trajectory

Presently, no TDS is required on interest payable in the case of listed dematerialised securities

Social sector: The emphasis of Budget is on the consolidation of schemes

The government has ring-fenced financial outlays for various social sectors, and this is reflected in nominal increases and efforts to make them more effective

Indirect taxes: Budget proposals aligned with govt's strategic priorities

Budget 2023-24 adopted seven priorities or Saptarishi, one of which is building focus on green growth

Social sector: The focus of Budget 2022 is on effective implementation

The government has continued with earlier policies, schemes and extent of outlays, without attempting radical shifts or transformations

Indirect Taxes: Union Budget 2022 is a transformative and progressive

The focus on India's startup ecosystem, the ease of doing business and green energy will shore up growth momentum and benefit multiple stakeholders.

Direct Taxes: FM Sitharaman chooses quiet consolidation in Budget

The yardsticks of stability, predictability, rationalisation and simplification define the tax proposals