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India Enacts Finance (No. 2) Act 2024 Including Additional Budget Measures

|Approved Changes|India
India

India's Central Board of Direct Taxes (CBDT) has published a copy of the Finance Act (No. 2) 2024, which was enacted on 16 August 2024 for the implementation of additional measures for the 2024-2025 budget. As previously reported, key measures include revised personal income tax brackets, a reduction in the corporate income tax (CIT) rate for foreign companies to 35% (from 40%), the abolition of the angel tax, changes to the taxation of capital gains tax, and others. Details of the main meas…

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