FINANCE ACT 2024: PRESIDENT GRANTS ASSENT

On February 15, 2024, President Droupadi Murmu granted his assent to the Finance Act 2024 (Budget 2024), officially bringing the government’s budgetary proposals for the financial year 2024-25 into effect. This act, passed by both houses of Parliament, outlines the government’s plans for income tax, indirect taxes, and other financial matters.

MINISTRY OF LAW AND JUSTICE

(Legislative Department)

New Delhi, the 15th February, 2024/Magha 26, 1945 (Saka)

The following Act of Parliament received the assent of the President on the 15th February, 2024 and is hereby published for general information:—

THE FINANCE ACT, 2024 NO. 8 OF 2024

[15th February, 2024.]

An Act to continue the existing rates of income-tax for the financial year 2024-2025 and to provide for certain relief to taxpayers and to make amendments in certain enactments.

BE it enacted by Parliament in the Seventy-fifth Year of the Republic of India as follows:—