{"id":7629,"date":"2024-07-24T09:49:35","date_gmt":"2024-07-24T09:49:35","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=7629"},"modified":"2024-08-15T18:07:47","modified_gmt":"2024-08-15T18:07:47","slug":"budget-highlights-tax-proposals-in-finance-bill-2024","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/budget-highlights-tax-proposals-in-finance-bill-2024\/","title":{"rendered":"Budget Highlights: Tax Proposals in Finance Bill 2024"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7635\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/tax-Praposal.jpg\" alt=\"tax Proposal\" width=\"870\" height=\"1280\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/tax-Praposal.jpg 870w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/tax-Praposal-204x300.jpg 204w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/tax-Praposal-696x1024.jpg 696w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/tax-Praposal-768x1130.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/tax-Praposal-800x1177.jpg 800w\" sizes=\"(max-width: 870px) 100vw, 870px\" \/><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69db574e2bbf5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69db574e2bbf5\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/budget-highlights-tax-proposals-in-finance-bill-2024\/#Budget_Highlights_Tax_Proposals_in_Finance_Bill_2024\" title=\"Budget Highlights: Tax Proposals in Finance Bill 2024\">Budget Highlights: Tax Proposals in Finance Bill 2024<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/budget-highlights-tax-proposals-in-finance-bill-2024\/#Important_Direct_Tax_Proposals\" title=\"Important Direct Tax Proposals:\">Important Direct Tax Proposals:<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/budget-highlights-tax-proposals-in-finance-bill-2024\/#Condition_of_Salaried_Employee\" title=\"Condition of Salaried Employee\">Condition of Salaried Employee<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/budget-highlights-tax-proposals-in-finance-bill-2024\/#Important_GST_Proposals\" title=\"Important GST Proposals:\">Important GST Proposals:<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Budget_Highlights_Tax_Proposals_in_Finance_Bill_2024\"><\/span><span style=\"color: #000080;\">Budget Highlights: Tax Proposals in Finance Bill 2024<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Important_Direct_Tax_Proposals\"><\/span>Important Direct Tax Proposals:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li><strong>Change in Tax Rates<\/strong>:\n<ul>\n<li>Changes in 3 slabs ranging from \u20b93 lakhs to \u20b912 lakhs result in a tax benefit of \u20b910,000.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Standard Deduction<\/strong>:\n<ul>\n<li>Increased from \u20b950,000 to \u20b975,000 in the new tax regime. Not available for those opting for the old regime. Tax benefit: \u20b97,500.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Family Pension Deduction<\/strong>:\n<ul>\n<li>Increased from \u20b915,000 to \u20b925,000 in the new tax regime.<\/li>\n<\/ul>\n<\/li>\n<li><strong>NPS Contribution Deduction<\/strong>:\n<ul>\n<li>Enhanced from 10% to 14% for private employees under the new tax regime.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Foreign Companies Tax Rate<\/strong>:\n<ul>\n<li>Reduced from 40% to 35%.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Condition_of_Salaried_Employee\"><\/span><span style=\"color: #000080;\"><strong>Condition of Salaried Employee<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7679\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/salary.jpg\" alt=\"salary\" width=\"1280\" height=\"895\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/salary.jpg 1280w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/salary-300x210.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/salary-1024x716.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/salary-768x537.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/salary-800x559.jpg 800w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/p>\n<ul>\n<li><strong>Uniform Long Term Capital Gain (LTCG) Tax Rate<\/strong>:\n<ul>\n<li>Set at 12.5% for:\n<ul>\n<li>STT paid equity shares and units of equity-oriented funds<\/li>\n<li>Units purchased in foreign currency<\/li>\n<li>Bonds or GDRs purchased in foreign currency<\/li>\n<li>Securities of FIIs<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><strong>Removal of Indexation Benefit<\/strong>:\n<ul>\n<li>Indexation for long-term capital gains removed.<\/li>\n<\/ul>\n<\/li>\n<li><strong>LTCG Exemption Increase<\/strong>:\n<ul>\n<li>Increased from \u20b91 lakh to \u20b91.25 lakhs for STT paid equity shares and units of equity-oriented funds.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Period of Holding Changes<\/strong>:\n<ul>\n<li>Reduced from 36 to 24 months for gold, listed debentures, listed bonds, and all units of mutual funds.<\/li>\n<li>Unlisted shares and immovable property continue to qualify as long-term capital assets after 24 months.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Capital Gain Treatment for Unlisted Bonds and Debentures<\/strong>:\n<ul>\n<li>Treated as short-term capital gain regardless of holding period.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Short Term Capital Gain Tax Rate<\/strong>:\n<ul>\n<li>Increased to 20% for STT paid equity shares or units of equity-oriented funds.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Capital Gain Exemption for Gifts<\/strong>:\n<ul>\n<li>Limited to Individual\/HUF.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Fair Value Excess for Private Companies<\/strong>:\n<ul>\n<li>Amount received in excess of fair value no longer taxable.<\/li>\n<\/ul>\n<\/li>\n<li><strong>TDS Rate on Commission<\/strong>:\n<ul>\n<li>Reduced from 5% to 2% effective 01-10-24.<\/li>\n<\/ul>\n<\/li>\n<li><strong>TDS Rate on Rent<\/strong>:\n<ul>\n<li>Reduced from 5% to 2% under section 194-IB.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Lower TDS Deduction<\/strong>:\n<ul>\n<li>Allowed for buyers and sellers at 0.1% under sections 194Q\/206C(1H).<\/li>\n<\/ul>\n<\/li>\n<li><strong>Consideration of Other TDS\/TCS<\/strong>:\n<ul>\n<li>For determining TDS on salary income, ensuring TDS on salary is not less than tax deductible without considering other incomes.<\/li>\n<\/ul>\n<\/li>\n<li><strong>TCS on Foreign Remittances<\/strong>:\n<ul>\n<li>Can be claimed by the parent for a child\u2019s expenses.<\/li>\n<\/ul>\n<\/li>\n<li><strong>TCS on Luxury Goods<\/strong>:\n<ul>\n<li>1% for items above \u20b910 lakhs. Motor vehicles already covered.<\/li>\n<\/ul>\n<\/li>\n<li><strong>TDS on Salary and Interest to Partners<\/strong>:\n<ul>\n<li>Above \u20b920,000 at 10% under section 194T.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7702\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Sec-194T-Payment-to-partners-of-firm.jpg\" alt=\"Sec 194T Payment to partners of firm\" width=\"1834\" height=\"1903\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Sec-194T-Payment-to-partners-of-firm.jpg 1834w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Sec-194T-Payment-to-partners-of-firm-289x300.jpg 289w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Sec-194T-Payment-to-partners-of-firm-987x1024.jpg 987w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Sec-194T-Payment-to-partners-of-firm-768x797.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Sec-194T-Payment-to-partners-of-firm-1480x1536.jpg 1480w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Sec-194T-Payment-to-partners-of-firm-800x830.jpg 800w\" sizes=\"(max-width: 1834px) 100vw, 1834px\" \/><\/p>\n<ul>\n<li><strong>TDS on Immovable Property<\/strong>:\n<ul>\n<li>Applied on aggregate limit for sales above \u20b950 lakhs, even with multiple buyers.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Interest on Late TCS Payment<\/strong>:\n<ul>\n<li>Increased from 1% to 1.5%.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Penalty Exemption for Delayed TDS Return<\/strong>:\n<ul>\n<li>Limited to one month from due date.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Correction of TDS\/TCS Returns<\/strong>:\n<ul>\n<li>Not allowed after 6 years.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Employer NPS Contribution Deduction<\/strong>:\n<ul>\n<li>Increased from 10% to 14%.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Deduction Disallowance<\/strong>:\n<ul>\n<li>Settlements for law infractions not deductible.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Partners\u2019 Salary Allowance<\/strong>:\n<ul>\n<li>Slabs changed; first slab up to \u20b96 lakhs with deduction allowed to the extent of \u20b93 lakhs or 90%, and remaining profits at 60%.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Vivaad se Vishwas Scheme<\/strong>:\n<ul>\n<li>For disputes filed post 31-01-20: settle by paying only tax amount.<\/li>\n<li>For pre 31-01-20: settle by paying tax plus 10%.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Block Assessment for Search Cases<\/strong>:\n<ul>\n<li>Income assessed at 60% without interest and penalty, except in specified circumstances under section 158BFA.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Search Cases Limit<\/strong>:\n<ul>\n<li>Reduced to 6 years.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Re-opening of Previous Years<\/strong>:\n<ul>\n<li>Limited to 5 years; requires approval from Additional\/Joint Commissioner.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Reassessment Provisions Revamped<\/strong>:\n<ul>\n<li>Re-opening with approval from Additional\/Joint Commissioner.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Return Filing Period for Notice u\/s 148<\/strong>:\n<ul>\n<li>Increased to 3 months; deemed return u\/s 139 if filed within 3 months.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Employer Contribution Deduction<\/strong>:\n<ul>\n<li>Increased to 14% under section 80CCD.<\/li>\n<\/ul>\n<\/li>\n<li><strong>ITAT Appeals<\/strong>:\n<ul>\n<li>Allowed for penalties under section 158BFA in search cases.<\/li>\n<\/ul>\n<\/li>\n<li><strong>ITAT Appeal Period<\/strong>:\n<ul>\n<li>Within 2 months from end of month in which appeal is communicated to assess\/PCIT.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Trusts and Section 10(23C) Regime<\/strong>:\n<ul>\n<li>Merged with section 11; no approval application for section 10(23C).<\/li>\n<\/ul>\n<\/li>\n<li><strong>PCIT Condonation of Delay<\/strong>:\n<ul>\n<li>Allowed if reasonable cause for delay in section 12A application.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Section 80G Registration<\/strong>:\n<ul>\n<li>Rationalized timelines.<\/li>\n<\/ul>\n<\/li>\n<li><strong>12A\/80G Registration Applications<\/strong>:\n<ul>\n<li>Decided within 6 months from end of quarter in which application is filed.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Merger of Charitable Trusts<\/strong>:\n<ul>\n<li>No exit tax for merger with similar trusts registered under sections 12AB\/10(23C).<\/li>\n<\/ul>\n<\/li>\n<li><strong>Income from Letting Residential Houses<\/strong>:\n<ul>\n<li>Not taxed under Profits and Gains of Business or Profession.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Foreign Assets Non-Disclosure Penalty<\/strong>:\n<ul>\n<li>Up to \u20b920 lakhs not imposed.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Aadhaar Enrolment ID for PAN Linking<\/strong>:\n<ul>\n<li>Abolished; Aadhaar number must be intimated.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Commissioner Appeal Power<\/strong>:\n<ul>\n<li>Can set aside ex parte assessments; completion within one year from end of financial year.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Belated Return Assessment<\/strong>:\n<ul>\n<li>Limit of 12 months from end of FY in which return is filed.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Withholding of Refund<\/strong>:\n<ul>\n<li>Allowed even if not prejudicial to revenue interest.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Withholding of Refund for Reassessment<\/strong>:\n<ul>\n<li>Allowed up to 60 days; interest on delayed refund accordingly.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Buyback of Shares<\/strong>:\n<ul>\n<li>Treated as dividend; taxable under Income from Other Sources. 10% TDS applies on income from buyback.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Presumptive Taxation for Non-Resident Cruise Operators<\/strong>:\n<ul>\n<li>Introduced at 20%; leasing company rental income exempt if both are subsidiaries of the same holding foreign company.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Equalization Levy<\/strong>:\n<ul>\n<li>2% on e-commerce supplies abolished.<\/li>\n<\/ul>\n<\/li>\n<li><strong>TPO Authority<\/strong>:\n<ul>\n<li>To deal with specified domestic transactions not referred by AO, earlier only international transactions.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7632\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Budget.jpg\" alt=\"Budget\" width=\"905\" height=\"1280\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Budget.jpg 905w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Budget-212x300.jpg 212w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Budget-724x1024.jpg 724w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Budget-768x1086.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/Budget-800x1131.jpg 800w\" sizes=\"(max-width: 905px) 100vw, 905px\" \/><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Important_GST_Proposals\"><\/span>Important GST Proposals:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li><strong>ITC Availment Extension<\/strong>:\n<ul>\n<li>For FY 2017-18 to 2020-21, extended to 30-11-21. No refund for already reversed ITC.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Waiver of Interest and Penalty<\/strong>:\n<ul>\n<li>For periods 2017-18 to 2019-20 before issue of order under sections 73\/74.<\/li>\n<\/ul>\n<\/li>\n<li><strong>ITC on Cancelled to Revoked Period<\/strong>:\n<ul>\n<li>Available if returns filed within 30 days of revocation, subject to section 16(4) time limit.<\/li>\n<\/ul>\n<\/li>\n<li><strong>ENA, Rectified Spirit<\/strong>:\n<ul>\n<li>Brought outside GST.<\/li>\n<\/ul>\n<\/li>\n<li><strong>ITC Blocked for Payment u\/s 74<\/strong>:\n<ul>\n<li>Restricted to demand till FY 2023-24.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Section 73, 74 Operation<\/strong>:\n<ul>\n<li>Until 31-03-2024; new section 74A for uniform SCN period of 42 months with higher penalty.<\/li>\n<\/ul>\n<\/li>\n<li><strong>No Refund for Export Duty Goods<\/strong>:\n<ul>\n<li>Whether export made under LUT or on payment of tax.<\/li>\n<\/ul>\n<\/li>\n<li><strong>IGST Payment Refund Stopped<\/strong>:\n<ul>\n<li>Except for notified persons and goods\/services.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Conditional Waiver of Interest and Penalty<\/strong>:\n<ul>\n<li>For cases FY 2017-18 to 2019-20 under new section 28A.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Pre-Deposit Rate for GSTAT Appeals<\/strong>:\n<ul>\n<li>Reduced from 20% to 10%; maximum pre-deposit before first appellate authority and GSTAT also reduced.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Mandatory Monthly TDS Returns<\/strong>:\n<ul>\n<li>Introduced irrespective of tax liability.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Summons Attendance<\/strong>:\n<ul>\n<li>Can be attended by authorized persons.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7697\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/FAQ.jpg\" alt=\"FAQ for ITR \" width=\"948\" height=\"2320\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/FAQ.jpg 523w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/FAQ-123x300.jpg 123w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/FAQ-418x1024.jpg 418w\" sizes=\"(max-width: 948px) 100vw, 948px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7698\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/FAQ-2.jpg\" alt=\"FAQ for ITR 2\" width=\"945\" height=\"1490\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/FAQ-2.jpg 812w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/FAQ-2-190x300.jpg 190w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/FAQ-2-650x1024.jpg 650w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/FAQ-2-768x1211.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/07\/FAQ-2-800x1261.jpg 800w\" sizes=\"(max-width: 945px) 100vw, 945px\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Budget Highlights: Tax Proposals in Finance Bill 2024 Important Direct Tax Proposals: Change in Tax Rates: Changes in 3 slabs ranging from \u20b93 lakhs to \u20b912 lakhs result in a tax benefit of \u20b910,000. Standard Deduction: Increased from \u20b950,000 to \u20b975,000 in the new tax regime. Not available for those opting for the old regime. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[173],"tags":[1095],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/7629"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=7629"}],"version-history":[{"count":4,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/7629\/revisions"}],"predecessor-version":[{"id":7703,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/7629\/revisions\/7703"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=7629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=7629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=7629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}