Good news for startups, Finance Minister Nirmala Sitharaman proposed to increase tax benefits

Budget 2024: On Thursday, the government announced plans to prolong the tax breaks for investments made by sovereign wealth or pension funds as well as startups by a year. An extension of the tax advantage until March 2025 has been proposed.

The International Financial Services Center (IFSC) units’ tax exemption on some income and certain tax benefits for investments made by startups, sovereign wealth funds, and pension funds would expire on March 31, 2024, according to Finance Minister Nirmala Sitharaman.

“To maintain continuity in taxation, I propose to extend the tax exemption until March 31, 2025,” she added, introducing the Interim Budget 2024–2025.

To encourage entrepreneurs in the nation, the government has implemented several initiatives. 1.17 lakh startups have received official recognition to date. Under an action plan for Startup India, these firms can benefit from tax incentives like income tax breaks.

Parliament’s budget session will begin with President Murmu’s address, PM Modi targets disruptive MPs

2024 Parliament Budget Session Live Updates: Starting this Wednesday, the Parliament’s budget session will begin. President Draupadi Murmu will address the joint session of both houses before the start of the budget session. The session of Parliament will continue until February 9 and last for 10 days.

During this session, eight meetings are suggested in total. On February 1, the government will also make its budgetary announcement. this is going to be a temporary budget. Following the elections and the establishment of the new administration, the entire budget will be presented.

PM Narendra Modi asked all Members of Parliament to do so in this session so that the public might benefit from his speech before the opening of the budget session. He added that all you have done up to this point is history and that you should bring up local issues in the House so that your community can gain.

In his speech, Prime Minister Modi stated that only members of the House who address public matters and offer thoughtful proposals will be remembered for a very long time.

In his speech, PM Modi expressed his hope that, over the past ten years, everyone had completed their duties in whichever manner they saw fit. However, I must admit that some people have developed a habit of making a lot of noise. During their recent meeting, all of these MPs—who routinely undermine democratic values—will undoubtedly reflect on their actions over the past ten years.

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