HIGHLIGHTS OF BUDGET 2023-2024 VISIT WWW.FLAMESCLAT.COM JOIN OUR TELEGRAM GROUP | 7371845985 Flames CLAT/AILET Law f ) Flames CLA entrance academyx HIGHLIGHTS OF BUDGET 2023-24 ¢ KEY THEME OF UNION BUDGET 2023-24 IS THE FOCUS ON INCLUSIVE DEVELOPMENT - SABKA SATH, SABKA VIKAS WHICH SPECIFICALLY COVERS THE FOLLOWING; « FARMERS, WOMEN, YOUTH, SCHEDULED CASTES, SCHEDULED TRIBES, OTHER BACKWARD CLASSES (OBCS), DIVYANGJAN (PWDSs) AND ECONOMICALLY WEAKER SECTIONS (EWs) * OVERALL PRIORITY FOR THE UNDERPRIVILEGED (VANCHITON KO VARIYATA) * THERE HAS ALSO BEEN A SUSTAINED FOCUS ON UTS OF J&K AND LADAKH AND THE NORTHEAST REGION (NER). a 4 | ra7sasess Flames cuar/aueriaw FFE flames_clat [i Flames CLAT entrance academyKEY TAKEAWAYS OF THE BUDGET ¢ CHANGES IN THE NEW INCOME TAX REGIME (IN REBATE LIMIT AND IN TAX SLABS). eA 33% INCREASE IN.CAPITAL INVESTMENT OUTLAY HAS BEEN PROPOSED, RAISING IT TO RS 10 LAKH CRORE (THE BIGGEST IN THE PAST DECADE). ¢ CHANGES IN CUSTOMS DUTY; REDUCED ON IMPORT OF CERTAIN INPUTS FOR MOBILE PHONE MANUFACTURING, SHRIMP FEED ETC. AND INCREASED ON CIGARETTES, GOLD ARTICLES, COMPOUNDED RUBBER ETC. ¢ CAPITAL OUTLAY FOR THE RAILWAYS INCREASED TO THE HIGHEST EVER - RS 2.40 LAKH CRORE. v | ra7sasess Flames cuarianeriaw FS) ftames_ciat (BIB rtames cua entrance academyBUDGET'S VISION FOR. AMRIT KAAL e THE FINANCE MINISTER OF INDIA CALLED IT THE FIRST BUDGET aN AMRIT KAAL. THE VISION FOR THE KAAL IS AN EMPOWERED AND IVE ECONOMY THAT Is TECHNO! Y-DRIVEN AND KNOWLEDGE-BASED j A ROBUST FINANCIAL SECTOR. THE BUDGET IDENTIFIES: wR SFORMATIVE OPPORTUNITIES TO B L E ‘D BEFORE REACHING INDIAa@100: * ECONOMIC EMPOWERME) WOMEN THROUGH SHGS 4 *PM VISHWAKARMA (PM VIKAS) * TOURISM PROMOTION ¢ GREEN GROWTH SAMMAN SION MODE 4 | ra7sasess Flames cuar/aueriaw FFE flames_clat LQ Flames cLat entrance academyPRIORITIES OF BUDGET, 2023-24 SAPTARISHI -7 PRIORITIES -INCLUSIVE DEVELOPMENT -REACHING THE LAST MILE .FINANCIAL SECTOR .GREEN GROWTH . YOUTH POWER . UNLEASHING THE.POTENTIAL -INFRASTRUCTURE AND INVESTMENT NaAnBR WN _ = 4 | ra7sasess Flames cuar/aueriaw FFE flames_clat [i Flames CLAT entrance academyE REFORMS PROPOSED INDIRECT TAXATION . PERSONAL INCOME TAX ¢ THERE ARE FIVE MAJOR ANNOUNCEMENTS RELATING TO THE PERSONAL |NCOME. TAX. THE REBATE LIMITalNeTHE NEW TAX REGIME®HAS BEEN INCREASED TO 27 LAKH. ¢ IT. MEANS) THAT*"PERSONS IN THE NEW TAX REGIME WITH INCOME UP TOM? 7 LAKH WILL NOT HAVE TO PAY ANY TAX. ©THE TAX “STRUCTURE. IN THE NEW PERSONAL TAX REGIME “HAS BEEN CHANGED BY REDUCING THE NUMBER OF SLABS TO FIVE ANDeINCREASING THE TAX EXEMPTION LIMIT TO = 3 LAKH. a 4 | ra7sasess Flames cuar/aueriaw FFE flames_clat [i Flames CLAT entrance academyFe ees aD say TAXATION i OTHER TAX REFORMS STANDARD DEDUCTION : °THE NEW TAX REGIME HAS»PROPOSED TO INCREASE. THE STANDARD. DEDUCTION FOR SALARIED INDIVIDUALS/TO| 50,000 RUPEES AND THE DEDUCTION FOR=FAMIEY=PENSION UP TO 15,000 RUPEES. MSMEs: ° THE LIMITS FOR PRESUMPTIVE TAXATION HAVE BEEN INCREASED FOR MICRO ENTERPRISES AND CERTAIN PROFESSIONALS AS ~LONG AS_ THE AMOUNT RECEIVED IN CASH DOES NOT EXCEED 5% OF THE TOTAL GROSS RECEIPTS/TURNOVER. « THE DEDUCTION FOR PAYMENTS MADE TO MSMES WILL ONLY BE ALLOWED WHEN PAYMENT IS ACTUALLY MADE TO SUPPORT THEIR TIMELY RECEIPT OF PAYMENTS. | ra7sasess Flames cuarianeriaw FS) fiames_ciat (BIB rtames cia entrance academyREFORMS PROPOSED.IN DIRECT TAXATION_y OTHER TAX REFORMS COOPERATIVES NEW MANUFACTURING CO RATIVES THAT START MANUFA RINGeBE 31.3.2024 WILL HAVE A LOWER RATE OF 15%. ¢ THE LIMIT FOR CASH DEPOSITS AND LOANS BY PRIMARY AGRICULTURAL CO-OPERATIVE SOCIETIES AND PRIMARY CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT BANKS HAS BEEN INCREASED TO 2 LAKH RUPEES PER MEMBER. ¢TAX DEDUCTION AT SOURCE (TDS) ON CASH WITHDRAWALS FOR CO-OPERATIVE SOCIETIES HAS BEEN INCREASED TO 3 CRORE RUPEES. al | ra7sasess Flames cuarianeriaw FS) ftames_ciat (BIB rtames cia entrance academyx REFORMS PROPOSED.IN DIRECT TAXATION_y OTHER TAX REFORMS STARTUPS + THE DATE FOR START-URSUTO RECEIVE INCOME TAX BENEFITS HAS@) EXTENDED TO 31.3.2024. THE CARRY FORWARD OF LOSSES FOR START-UPS HAS BEEN INCREASED FROM 7 YEARS OF INCORPORATION TO 10 YEARS. ONLINE GAMING Es a ¢ TAXABILITY ON ONLINE (GAMING WILL BE CLARIFIED WITH TDS AND©TAXABILITY ON NET WINNINGS AT THE TIME OF WITHDRAWAL OR AT THE END OF THE FINANCIAL YEAR al | ra7sasess Flames cuarianeriaw FS) ftames_ciat (BIB rtames cia entrance academyNe 2023 CURRENT AND PROPOSED TAX SLABS LAKH TAX RATE CURRENT INCOME SLAB _ | PROPOSED INCOME SLAB NIL UP TO RS 2.5 LAKH: UP TO RS 3 LAKH 5% RS 25 LAKH TO RS 5 RS 3 LAKH TO RS 6 LAKH LAKH 10% RS 5 LAKH TO RS 7.5 AKH TO RS 9 15% RS 7.5 LAKH TO RS 10° oe oe RS 9 LAKH TO RS 12 LAKH LAKH / 20% Wf) Rs 10 RS 12/LAKH TO RS 15 \|_ LAKH. LAKH 25% “YRS 12 LAKH 2S - “LAKH — 30% ABOVE RS 15 LAKH ABOVE RS 15 LAKH JOIN OUR TELEGRAM GROUP FOR MORE 7371845985 Flames CLAT/AILET Law =f / entrance academy 149) | flames_clat0) AY Wi) BREAKING OUROWN RECORD 338 aS Consistently Delivering Heighest selection rate in << NLUs From Last 4 Yrs. Piyush Gupta Arnav Mathur Vrish Varddhan Rue cad Ibi Yash Srivastava (oBc) Kumar Anish (spam CU aT cs ae Breaking Our Own Records! G NT) rN) NT) Nr] 3 Ps Ps ar ca es EXE Ele 80% Of Highest Selection Rate in NLUs From 3 Years! OB | | Ed laa |" a 1 ae Pee bs SLT Lee] 716 Fa al eT PA ae V2) Download Our App UK GEANTS STAR RAINIKER'SINSTAGRAM Pe vountiaa > PLAY STORE >.