Over 10 million taxpayers, mostly small salary earners, will have long-pending notices for dues related to income tax, wealth tax and gift tax withdrawn, finance minister Nirmala Sitharaman announced on Thursday in an amnesty plan that will see dues of up to ₹25,000 in cases prior to the 2009-10 financial year and up to ₹10,000 for cases between then and 2014-15 disposed of.
The minister was presenting the Union interim budget for the 2024-25 financial year, when she said the measure was in line with the government's efforts to improve ease of living and doing business.
"I propose to withdraw such outstanding direct tax demands up to twenty-five thousand rupees (₹25,000) pertaining to the period up to financial year 2009-10 and up to ten thousand rupees (₹10,000) for financial years 2010-11 to 2014-15. This is expected to benefit about a crore tax-payers," she announced in her interim budget speech in Parliament.
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