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Budget 2024: Govt announces withdrawal of old tax demands in interim budget

In the interim budget for 2024-25, Finance Minister Nirmala Sitharaman declared the government`s intent to withdraw disputed direct tax demands from the past.

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Nirmala Sitharaman presenting interim budget/ PTI

Nirmala Sitharaman presenting interim budget/ PTI

In the interim budget for 2024-25, Finance Minister Nirmala Sitharaman declared the government`s intent to withdraw disputed direct tax demands from the past. Per the PTI report, the proposed withdrawal includes amounts up to Rs 25,000 for the fiscal years up to 2010 and Rs 10,000 for the period from 2010-11 to 2014-15. 

Sitharaman, according to the agency report, said that this move is expected to benefit around one crore taxpayers. 

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