Today, Tuesday, July 23, 2024, India’s Finance Minister Nirmala Sitharaman announced a new tax update. In the new tax slab, the long-term capital gas tax has been given a big relief. The amount of long-term capital gas tax till the last financial year 2023-24 was Rs 1,00,000. But now it has been increased to 1,25,000 for the financial year 2024-25. Keeping in mind the interests of his countrymen, the Finance Minister has given tax exemptions to all salaried people, industrialists, and pensioners.
Increasing the Long Term Capital Gas Tax from Rs 1 lakh to Rs 1.25 lakh means that the government is eyeing to promote long-term investment. Apart from this, the government has also promoted Short Term Capital Gas Tax. In the Budget 2024-25, the NDA government has paid a lot of attention to the needs of its allies. A lot of schemes have been announced for Andhra Pradesh and Bihar.
Read Also:- Income Tax Budget 2024 Updates: New tax slab, Standard Deductions, and More
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