New Delhi, April 30 -- The Institute of Chartered Accountants of India (ICAI) has submitted its Pre-Budget Memorandum 2024 to the Central Board of Direct Taxes (CBDT), ahead of the full budget presentation for the financial year 2024-25 by the new government after the Lok Sabha election results.
In its memorandum, ICAI has proposed several tax incentives and deductions.
The memorandum emphasises tax incentives for entities engaged in green projects and skill development activities. It proposes exempting or offering a concessional tax rate on interest income earned by subscribers of green bonds issued by such entities.
Another key proposal is to introduce a separate provision for deduction of expenses related to the education of a girl...