Business

No changes in tax rates for direct, indirect taxes: FM

NewsDrum Desk

01 Feb 2024

New Update

Union Finance Minister Nirmala Sitharaman presents the Interim Budget 2024 in the Lok Sabha, at Parliament House in New Delhi

New Delhi: Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties.

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She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014.

The processing time of tax returns has been reduced from 93 days in FY14 to 10 days; and refunds have been made faster, she said.

The government continues to be on the path of fiscal consolidation to reduce fiscal deficit to 4.5 pc in 2025-26.

She added that the tax base of Goods and Services Tax (GST) has more than doubled since FY14.

Nirmala Sitharaman GST Income tax Union Budget Direct Tax Tax rates Tax Return Interim Budget Budget 2024

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