The Interim Budget announcement for 2024 has not only been lauded for its fiscal prudence but has also opened up promising opportunities in various sectors.Among the companies poised to benefit from the budget's focus on mid-income housing and tourism, Mahindra Holidays stands out as a potential multi-year tourism bet.The interim Budget had a special mention about the tourism sector.

Finance Minister Nirmala Sithraman's announcements on affordable housing and extension of Pradhan Mantri Awas Yojana in the rural sector failed to cheer realty stocks which fell up to 3% on Thursday. The specifics of the scheme are yet to be announced.Among the top losers were Brigade Enterprises, Sobha, Prestige Estates which fell between 3% and 2.40% at 1:15 pm.

If there is any error in the income tax return filed by you, a notice under section 143(2) will be issued to call you for scrutiny if the case is picked up. In case an individual has failed to file the tax return in a particular financial year, then the tax department will issue a notice under Section 148. Additional tax notices may also be sent for other reasons.

MUMBAI - Stocks in the infrastructure space were mixed, with most of them largely unmoved as the announcements in the interim Budget for FY25 were largely on expected lines. For 2024-25 (April-March), the government has increased the total capital outlay by 11% to Rs 11.1 lakh crore, which was largely expected. This is likely to be 3.4% of GDP. Analysts had expected government capex to further.

The salaried class, who have been consistently lauded for their contribution towards the nation's tax pool, were keenly awaiting the announcements to be made by Finance Minister Nirmala Sitharaman as part of the Interim Budget she presented on February 1. Here's a look at the big takeaways from Sitharaman's budget presentation for the salaried class: No changes in income-tax rates and slabs

Diagnostics player Dr Lal PathLabs on February 1 reported a 54 percent year-on-year rise in consolidated net profit at Rs 81.3 crore for the third quarter of this financial year. The company had reported a profit of Rs 52.8 crore in the same period last year. Revenue for the October-December quarter came in at Rs 538.9 crore, up 10.1 percent from the year-ago quarter numbers of Rs 489.4 crore..

Several manufacturing companies will face uncertainty following the interim Union Budget 2024 as the government has not specified any provision to extend the special tax rate of 15 percent applicable to new manufacturing units that begin production before March 31, 2024. This could potentially increase the tax outgo of some manufacturing by 7 percent, say tax experts.

Finance Minister Nirmala Sitharaman has not made any announcement regarding a cut in cess on crude oil in the interim Budget 2024 presented on February 1. Nirmala Sitharaman tabled the Budget 2024 as a vote-on-account ahead of the general elections scheduled for April-May 2024. A full Budget for FY25 will be presented after the new government comes to power.

The interim Budget 2024 has set the ball rolling for formally introducing the hike in the tax collected at source (TCS) rate on foreign remittances, announced in 2023 into the Income Tax Act by way of an amendment. This will happen once the bill is passed by the Parliament. It was in the last Budget that the government had announced a hike in the TCS rate on foreign remittances.

Finance Minister Nirmala Sitharaman's budget speech announced key infrastructure investments in expansion of airports and railway corridors, expected to drive real estate activity in Tier II and III cities. The government allotted Rs 11.11 trillion for capital expenditure and set aside funds for PMAY and tourism development, which could lead to better livability and attract residents.

On February 1, Finance Minister Nirmala Sitharaman wrapped up her presentation in 160 minutes - making it the shortest one out of her six budget speeches - as this was an interim budget with the Lok Sabha polls just a couple of months away. Sitharaman highlighted India's booming economy and announced that the country's capital expenditure outlay for FY25 has been increased by 11.1 percent.

Two-wheeler automobile stocks remained a mixed bag, with the majority trading lower after the government reduced the budget allocation for the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme by nearly 44 percent to Rs 2,671 crore for FY25, potentially hampering EV adoption in the country. Shares of Bajaj Auto pared pre-budget gains of over 2 percent.

Union Financae Minister  Nirmala Sitharaman made several noteworthy announcements regarding the digital economy, digital public infrastructure and Artificial Intelligence development in her budget speech last year. However, in today's interim budget, primarily serving as a Vote on Account, there was NO disclosure on the progress of public investment in these digital economy projects.

Aquaculture sector assumes utmost importance in the country as India has a very long coastline of over 5,00 km, and seafood production is carried out in over 200 districts across multiple coastal provinces of India. Inland and aquaculture production and seafood exports have doubled since a separate fisheries department was set up a few years earlier. India is the 3rd largest fish producing.

The interim budget for 2024 focuses on boosting consumption through infrastructure spending and job creation, rather than direct measures like tax rebates. The increase in capital expenditure is expected to indirectly benefit consumers. The government has highlighted its efforts to create job opportunities and promote rural demand through various schemes.