{"id":782,"date":"2024-02-01T09:37:05","date_gmt":"2024-02-01T09:37:05","guid":{"rendered":"https:\/\/matribhumisamachar.com\/en\/?p=782"},"modified":"2024-02-01T09:37:05","modified_gmt":"2024-02-01T09:37:05","slug":"the-country-is-proud-of-our-youth-scaling-new-heights-in-sports-union-finance-minister","status":"publish","type":"post","link":"https:\/\/matribhumisamachar.com\/en\/2024\/02\/01\/the-country-is-proud-of-our-youth-scaling-new-heights-in-sports-union-finance-minister\/","title":{"rendered":"THE COUNTRY IS PROUD OF OUR YOUTH SCALING NEW HEIGHTS IN SPORTS: UNION FINANCE MINISTER"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>New Delhi. \u201c<\/strong>Over the last ten years, the direct tax collections have more than trebled and the return filers swelled to 2.4 times\u201d, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman said, while presenting the Interim Budget 2024-25 in the Parliament today. The Minister assured taxpayers that their contributions have been used wisely for the development of the country and welfare of its people. She appreciated the tax payers for their support.<\/p>\n<p style=\"text-align: justify;\">\u00a0Sitharaman further added that under the new tax regime, the tax rates have been reduced and rationalised. There is now no tax liability for tax payers with income up to \u20b9 7 lakh, up from \u20b9 2.2 lakh in the financial year 2013-14. The threshold for presumptive taxation for retail businesses was increased from \u20b9 2 crore to \u20b9 3 crore. Similarly, the threshold for professionals eligible for presumptive taxation was increased from \u20b9 50 lakh to \u20b9 75 lakh. Also, corporate tax rate was decreased from 30 per cent to 22 per cent for existing domestic companies and to 15 per cent for certain new manufacturing companies.<\/p>\n<p style=\"text-align: justify;\">The Union Minister highlighted that in the last five years, the government\u2019s focus had been to improve tax-payer services. \u201cThe age-old jurisdiction-based assessment system was transformed with the introduction of\u00a0<strong>Faceless Assessment and Appeal<\/strong>, thereby imparting greater efficiency, transparency and accountability\u201d, she said.<\/p>\n<p style=\"text-align: justify;\">\u00a0Sitharaman also asserted that the introduction of updated income tax returns, a new Form 26AS and pre-filling of tax returns have made filing of tax returns simpler and easier,\u00a0<strong>reducing average processing time of returns from 93 days in the year 2013-14 to a mere ten days this year<\/strong>, thereby making refunds faster.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi. \u201cOver the last ten years, the direct tax collections have more than trebled and the return filers swelled to 2.4 times\u201d, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman said, while presenting the Interim Budget 2024-25 in the Parliament today. The Minister assured taxpayers that their contributions have been used wisely &hellip;<\/p>\n","protected":false},"author":1,"featured_media":762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,136],"tags":[264],"class_list":["post-782","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business-english-news","category-national","tag-sport"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>THE COUNTRY IS PROUD OF OUR YOUTH SCALING NEW HEIGHTS IN SPORTS: UNION FINANCE MINISTER - Matribhumi Samachar English<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/matribhumisamachar.com\/en\/2024\/02\/01\/the-country-is-proud-of-our-youth-scaling-new-heights-in-sports-union-finance-minister\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THE COUNTRY IS PROUD OF OUR YOUTH SCALING NEW HEIGHTS IN SPORTS: UNION FINANCE MINISTER - Matribhumi Samachar English\" \/>\n<meta property=\"og:description\" content=\"New Delhi. \u201cOver the last ten years, the direct tax collections have more than trebled and the return filers swelled to 2.4 times\u201d, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman said, while presenting the Interim Budget 2024-25 in the Parliament today. The Minister assured taxpayers that their contributions have been used wisely &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/matribhumisamachar.com\/en\/2024\/02\/01\/the-country-is-proud-of-our-youth-scaling-new-heights-in-sports-union-finance-minister\/\" \/>\n<meta property=\"og:site_name\" content=\"Matribhumi Samachar English\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-01T09:37:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/matribhumisamachar.com\/en\/wp-content\/uploads\/2024\/02\/Nirmala-Sitharaman-presenting-Budget-2024.png\" \/>\n\t<meta property=\"og:image:width\" content=\"549\" \/>\n\t<meta property=\"og:image:height\" content=\"309\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Saransh Kanaujia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saransh Kanaujia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/matribhumisamachar.com\/en\/2024\/02\/01\/the-country-is-proud-of-our-youth-scaling-new-heights-in-sports-union-finance-minister\/\",\"url\":\"https:\/\/matribhumisamachar.com\/en\/2024\/02\/01\/the-country-is-proud-of-our-youth-scaling-new-heights-in-sports-union-finance-minister\/\",\"name\":\"THE COUNTRY IS PROUD OF OUR YOUTH SCALING NEW HEIGHTS IN SPORTS: UNION FINANCE MINISTER - Matribhumi Samachar English\",\"isPartOf\":{\"@id\":\"https:\/\/matribhumisamachar.com\/en\/#website\"},\"datePublished\":\"2024-02-01T09:37:05+00:00\",\"dateModified\":\"2024-02-01T09:37:05+00:00\",\"author\":{\"@id\":\"https:\/\/matribhumisamachar.com\/en\/#\/schema\/person\/0a61403f4baf9627e92218b53a1e65f1\"},\"breadcrumb\":{\"@id\":\"https:\/\/matribhumisamachar.com\/en\/2024\/02\/01\/the-country-is-proud-of-our-youth-scaling-new-heights-in-sports-union-finance-minister\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/matribhumisamachar.com\/en\/2024\/02\/01\/the-country-is-proud-of-our-youth-scaling-new-heights-in-sports-union-finance-minister\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/matribhumisamachar.com\/en\/2024\/02\/01\/the-country-is-proud-of-our-youth-scaling-new-heights-in-sports-union-finance-minister\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/matribhumisamachar.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"THE COUNTRY IS PROUD OF OUR YOUTH SCALING NEW HEIGHTS IN SPORTS: UNION FINANCE MINISTER\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/matribhumisamachar.com\/en\/#website\",\"url\":\"https:\/\/matribhumisamachar.com\/en\/\",\"name\":\"Matribhumi Samachar English\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/matribhumisamachar.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/matribhumisamachar.com\/en\/#\/schema\/person\/0a61403f4baf9627e92218b53a1e65f1\",\"name\":\"Saransh Kanaujia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/matribhumisamachar.com\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/45a8b03a1b1bb8255014f5e62f9cfea0eb8a9f7a6a604f9879038df08da23cea?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/45a8b03a1b1bb8255014f5e62f9cfea0eb8a9f7a6a604f9879038df08da23cea?s=96&d=mm&r=g\",\"caption\":\"Saransh Kanaujia\"},\"description\":\"Saransh Kanaujia is currently editor of Matribhumi Samachar Group. 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