Union Interim Budget 2024 – Disputed old income Tax demands to be withdrawn. No change in the tax slabs or rate
The interim budget will be a vote-on-account and will give the present government authority to spend certain sums of money till a new government comes into office after the 2024 Lok Sabha elections. A full-fledged budget will be presented after the Lok Sabha elections.
While a normal, full-year Union Budget outlines the government’s financial plans for the entire fiscal year ahead, an Interim Budget is a stop-gap arrangement to ensure smooth functioning until a new government takes charge.
The Presidents has assented to the Finance Bill 2024 on 15th February, 2024.
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