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Searched Tag: income tax benefits budget 2024
Tax relief for salaried, standard deduction hiked to Rs 75,000

Tax relief for salaried, standard deduction hiked to Rs 75K

July 23, 2024, 01:49 PM - 2 min read

Finance Minister Nirmala Sitharaman increased the standard deduction by 50% to Rs 75,000 and adjusted tax slabs under the new income tax regime to put more money in the pockets of the salaried class and encourage spending.

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No tax till 3 lakh income under new tax regime

No tax till 3 lakh income under new tax regime

July 23, 2024, 12:52 PM - 2 min read

The Standard Deduction limit has been raised to Rs 75,000 by the government, allowing those employed to potentially save up to Rs 17,500 in taxes under the new system, up from the previous Rs 50,000.

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