Insights
India: Budget snapshot Tax
February 1, 2024As the India’s real GDP is projected to grow at 7.3% and the federal elections scheduled to take place within next few months, the government kept its promise of maintaining fiscal discipline in the Interim Budget (The Budget) presented on 1 February, 2024.
The Budget has extended certain tax benefits which were set to expire on March 31, 2024 till March, 2025. These include tax holiday for eligible startups, tax benefits available to investment divisions of offshore banking units in International Financial Service Centre (IFSC), tax benefits available in respect of aircrafts and ships leased to units in IFSC etc.
We are pleased to share with you our Budget Insights summarising the key tax proposals.
