Budget 2024 LIVE | Mini Nair, Chief Financial Officer, Geojit Financial Services on taxation announcements

Eliminating outstanding tax demands below 25,000 up to FY 2009-10 and below 10,000 up to FY 2014-15 is a welcome move. This shows that the government is using their database effectively. While the Budget speech refers to the increase in the number of taxpayers by 2.4times and of a good direct tax collection and a stable GST implementation, that positivity is yet to be passed on to the middle class. Hence there can be some disappointment in personal taxation among the salaried class. As this is an interim budget, let’s hope that there would be scope for realistic reduction on individual tax in the full budget.