India releases Union Budget 2024

26 July 2024|Tax Alerts, Legislation & Policy, National/Federal Taxation|India

The Finance Minister of India presented the Union Budget for 2024 on 23 July 2024.
Proposed changes include a reduced corporate rate for nonresident taxpayers, holding period changes for capital assets, and a onetime tax settlement option.
This Alert summarizes the key tax proposals.

Executive summary

The Finance Minister of India presented the Union Budget 2024 (the Budget) on 23 July 2024. The Budget includes positive proposals such as:

Reduction in the base corporate tax rate for nonresid…

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