Budget 2024 Boost To New Tax Regime: Standard Deduction Raised To Rs 75k From Rs 50k
5 months ago

Budget 2024 Boost To New Tax Regime: Standard Deduction Raised To Rs 75k From Rs 50k

News 18  

Finance Minister Nirmala Sitharaman on Tuesday announced to increase standard deduction limit to Rs 75,000 under the new tax regime, compared with Rs 50,000 earlier. Presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will come out with SoP for TDS defaults and simplify and rationalise compounding of such offences. More than two-thirds of individuals availed of the new income tax regime, Sitharaman said in the Lok Sabha. Get the latest on new income tax slab rates for AY 2024-25 in Income Tax Slabs Budget 2024 LIVE Updates.

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History of this topic

Budget 2025: FM should introduce new tax slab for individuals who adopt renewable energy, reduce carbon emissions
16 hours, 44 minutes ago

Budget 2025: FM should introduce new tax slab for individuals who adopt renewable energy, reduce carbon emissions

Live Mint  

Finance minister Nirmala Sitharaman is set to present her second comprehensive budget after the 2024 general elections. The old tax regime with the regular income slabs and eligible deductions/exemptions and the new tax regime with relatively wider income slabs and lower tax rates, without most deductions/exemptions available in the old tax regime. A unified tax regime with widened income slabs …

Can you expect major income tax changes in Budget 2025? Check details
1 month, 1 week ago

Can you expect major income tax changes in Budget 2025? Check details

India Today  

The Union Budget 2025-26 is set to usher in a new era of tax simplification in India, with the Finance Ministry working on comprehensive reforms to streamline the income tax system. The proposed reforms focus on three key areas: simplifying tax structures, expanding the tax base, and balancing revenue generation with taxpayer relief. SIMPLER TAX FILING Building on the success …

It is time India started indexing tax slabs and exemptions with inflation
Trending News
1 month, 1 week ago

It is time India started indexing tax slabs and exemptions with inflation

Live Mint  

NEW DELHI : One of the big stories of the Indian economy has been the sharp increase in personal income tax collections. As the government’s revenue from personal income tax rises, it will likely face greater scrutiny and higher taxpayer expectations regarding the tax system's efficiency, transparency, stability, and fairness. The old tax regime evolved over several decades, allowing individuals …

Union Budget 2024: Political Uproar Expected in Parliament Today, Watch Video | ABP News
4 months, 4 weeks ago

Union Budget 2024: Political Uproar Expected in Parliament Today, Watch Video | ABP News

ABP News  

Finance Minister Nirmala Sitharaman presented the Union Budget on Tuesday. The biggest relief for millions of new tax regime taxpayers comes in the form of an increase in the standard deduction. During her budget speech, Finance Minister Nirmala Sitharaman emphasized her primary goals of job creation, skill development, support for small industries, and relief for the middle class. Changes in …

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again
4 months, 4 weeks ago

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again

Hindustan Times  

Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in the parliament on July 23, proposing new changes in the income tax slabs of the new tax regime. Nirmala Sitharaman pictured at the Lok Sabha on July 23, with the Union Budget What are the latest income tax slabs in the new tax regime? Up to ₹3 lakh: NIL ₹3-7 …

Budget 2024: Is the new income tax regime beneficial for all salaried taxpayers?
4 months, 4 weeks ago

Budget 2024: Is the new income tax regime beneficial for all salaried taxpayers?

Hindustan Times  

The government is nudging salaried income taxpayers to move to a new regime, which it says is simpler and offers lower rates of taxes. In her 2020 budget speech introducing the new tax regime, finance minister Nirmala Sitharaman noted that the income tax law allowed more than 100 exemptions and deductions. Those who had made certain investment decisions to benefit …

Budget 2024: These 4 TDS changes announced by Nirmala Sitharaman will impact you
4 months, 4 weeks ago

Budget 2024: These 4 TDS changes announced by Nirmala Sitharaman will impact you

Hindustan Times  

Finance minister Nirmala Sitharaman announced changes in the Tax Deducted at Source framework which will impact salaried individuals. The tweaks will impact disposable income and streamline tax processes, the Finance minister announced, adding, "A beginning is being made in the Finance Bill by simplifying the tax regime for charities, TDS rate structure, provisions for reassessment and search provisions and capital …

New income tax regime: Check how much tax you will pay now
4 months, 4 weeks ago

New income tax regime: Check how much tax you will pay now

India Today  

Finance Minister Nirmala Sitharaman announced key changes to the New Income Tax regime, tweaking tax slabs and increasing the standard deduction. Read Full Budget 2024 Coverage The Finance Minister highlighted that over two-thirds of tax filers chose the new personal income tax regime in the last fiscal year. New Tax Regime after revision The revised tax slabs under the New …

Budget 2024 creates a template for reforms in Modi 3.0
4 months, 4 weeks ago

Budget 2024 creates a template for reforms in Modi 3.0

Firstpost  

This year’s Budget stands out for its balanced approach, focusing on fiscal discipline, capital expenditure, regulatory simplification, job creation, and next-generation reforms, aiming to stimulate high growth and employment Budgets have long been spectacles of grand announcements and symbolic gestures. Additionally, the budget aims to enhance women’s workforce participation through infrastructure support and specialised skilling programmes, and to upgrade 1,000 …

Budget 2024: Time to opt out of old tax regime? Explained
4 months, 4 weeks ago

Budget 2024: Time to opt out of old tax regime? Explained

Hindustan Times  

The message from Budget 2024 was loud and clear: say goodbye to the old income tax regime. Union finance minister Nirmala Sitharaman proposed three key changes in the new tax regime, while the old one was left untouched. If your deductions and exemptions exceed the break-even amount, go for the old tax regime, otherwise the new tax regime will be …

Budget 2024 | Old or new tax regime: Which will be more beneficial for you? Know here
4 months, 4 weeks ago

Budget 2024 | Old or new tax regime: Which will be more beneficial for you? Know here

India TV News  

Budget 2024: In the Budget, Finance Minister Nirmala Sitharaman did not make any changes in the old tax regime but increased the exemption limit in the new tax regime, making it more advantageous than before. Proposed tax structure under new tax system 0-3 lakh: Nil 3-7 lakh: 5% 7-10 lakh: 10% 1-12 lakh 15% 12-15 lakh 20% Above 15 lakh: …

Mixed reactions to revised Income Tax rates, deductions in Andhra
5 months ago

Mixed reactions to revised Income Tax rates, deductions in Andhra

New Indian Express  

GUNTUR: Finance Minister Nirmala Sitaraman’s announcements on Income Tax have evoked mixed feelings among the public. Under the new regime of the personal Income Tax rates, she announced that standard deduction for salaried employees has been hiked to Rs 75,000 from Rs 50,000. Explaining the significance of the changes to the standard deduction, Murthy Naidu, a financial analyst, said a …

Budget 2024: The Indian middle class expected more
5 months ago

Budget 2024: The Indian middle class expected more

Hindustan Times  

Budget 2024 came at a rare moment in the history of Indian budgets. Mostly aimed at first time workers, the government is willing to spend money to move people into formal employment as reflected in the Employees Provident Fund Organisation employment numbers. From 35,000 feet, the Budget 2024 story is this: The government will continue to tax the top 10% …

Income tax benefits, capital gains tax hike, cheaper phones | Key Budget takeaways
5 months ago

Income tax benefits, capital gains tax hike, cheaper phones | Key Budget takeaways

Hindustan Times  

Finance minister Nirmala Sitharaman on Tuesday proposed the much-awaited change in the income tax slabs as she tabled the first Union Budget of the new Narendra Modi government. "Under the new tax regime, tax rate structure to be revised as follows - ₹0- ₹3 lakh -Nil; ₹3-7 lakh -5%; ₹7-10 lakh-10%; ₹10-12 lakh-15%; ₹12-15 lakh- 20% and above ₹15 lakh-30%," …

Budget 2024: How the changes in new tax regime will benefit the salaried, explained
5 months ago

Budget 2024: How the changes in new tax regime will benefit the salaried, explained

Hindustan Times  

Salaried income taxpayers shifting to the new tax regime stand to save up to ₹17,500 in income tax, finance minister Nirmala Sitharaman announced in presenting the Union budget 2024. The finance minister announced increased standard deduction for those opting to file their tax returns under the new regime and also widened the tax slabs to give relief. Increase in the …

Watch: Budget 2024 | What’s in it for markets and investors?
5 months ago

Watch: Budget 2024 | What’s in it for markets and investors?

The Hindu  

On July 23, the Finance Minister Nirmala Sitharaman presented the first full budget of the 3rd term of the NDA government. For deepening tax base the Finance Minister has proposed to increase Securities Transaction Tax on Futures and Options contracts to 0.2% and 0.1%, respectively. As per the budget proposals now unlisted bonds and debentures, debt mutual funds and market-linked …

Revised income tax slab rates, Budget 2024: Salaried individuals stand to save up to ₹17,500, standard deductions hiked
5 months ago

Revised income tax slab rates, Budget 2024: Salaried individuals stand to save up to ₹17,500, standard deductions hiked

The Hindu  

Altering the structure for taxation of income under the new regime, Finance Minister Nirmala Sitharaman on Tuesday revised the tax slabs whilst retaining the erstwhile corresponding tax rates other than increasing the standard deductions. The two measures combined, she stated, would provide relief to “about four crore salaried individuals and pensioners.” More under new regime According to Deepashree Shetty, Partner …

Union Budget 2024: Should you pick new tax regime? How can you save Rs 17,500 in income tax every year?
5 months ago

Union Budget 2024: Should you pick new tax regime? How can you save Rs 17,500 in income tax every year?

Firstpost  

In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced a revision of tax slabs under the new regime. The lowest slab in the new tax regime increased to Rs 3 lakh from Rs 2.5 lakh. The tax structure is proposed to be revised as follows: No tax for those earning up to Rs 3 lakh 5 per cent tax …

Union Budget 2024: Here Are The Major Announcements From FM Sitharaman
5 months ago

Union Budget 2024: Here Are The Major Announcements From FM Sitharaman

ABP News  

Union Budget 2024: Finance Minister Nirmala Sitharaman presented the Union Budget for the fiscal year 2024-25 on Tuesday. Budget 2024 announced an increase in the deduction for Employer National Pension Scheme contributions to 14 per cent. The revised borrowing target is Rs 14.01 lakh crore, down from the Rs 14.13 lakh crore previously announced in the interim budget. The capital …

Government cuts borrowing target to ₹14.01 lakh crore for 2024-25
5 months ago

Government cuts borrowing target to ₹14.01 lakh crore for 2024-25

Hindustan Times  

The government has lowered its borrowings estimate for the current financial year to 14.01 lakh crore as there is an improvement in tax collection. Union Finance Minister Nirmala Sitharaman showcases a red pouch carrying the Budget documents, outside the Finance Ministry in North Block The government has to borrow by issuing dated securities to meet its fiscal deficit target. The …

'EMPLOYMENT': Nirmala Sitharaman's acronym for Budget 2024 theme
5 months ago

'EMPLOYMENT': Nirmala Sitharaman's acronym for Budget 2024 theme

India Today  

With job creation and youth skilling initiatives being the top focus of the government, Finance Minister Nirmala Sitharaman coined a new acronym - 'EMPLOYMENT' - as the theme of the Union Budget 2024-25. Read Full Budget 2024 Coverage While the government has tweaked tax slabs under the new income tax regime to boost consumption among the salaried class, it has …

Budget 2024: How the new tax regime announced by Sitharaman will impact taxpayers?
5 months ago

Budget 2024: How the new tax regime announced by Sitharaman will impact taxpayers?

India TV News  

Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. In a significant move, Sitharaman unveiled new income tax slabs under the revised tax regime. Here are the new and old income tax slabs New income tax slabs 0-3 lakh: Nil 3-7 lakh: 5% 7-10 lakh: 10% 1-12 lakh 15% 12-15 lakh 20% …

Calculation: Will you pay more income tax or less after Budget 2024 changes?
5 months ago

Calculation: Will you pay more income tax or less after Budget 2024 changes?

Firstpost  

The government has introduced a simplified tax regime for the fiscal year 2024-25, aimed at streamlining the tax structure to make it more taxpayer friendly. As we move to higher income levels, for the range of Rs 1,500,000 to Rs 5,000,000, the tax rate is set at 30 per cent with an effective tax rate of 31.20 per cent. For …

Budget 2024: How will it impact the common people and consumers? CHECK here
5 months ago

Budget 2024: How will it impact the common people and consumers? CHECK here

India TV News  

Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday announced the Union Budget 2024-25, with nine outlined priorities in agriculture, employment and skilling, manufacturing and services, human resource development, urban development, energy security and more. Sitharaman announced Prime Minister Narendra Modi's package of five schemes for employment, skilling and other opportunities for employment, skilling and other opportunities for 4.1 crore youth …

Afternoon briefing: New tax regime slabs revised in Budget 2024; IIT Delhi's submission to SC in NEET row; and more
5 months ago

Afternoon briefing: New tax regime slabs revised in Budget 2024; IIT Delhi's submission to SC in NEET row; and more

Hindustan Times  

Finance minister Nirmala Sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000. Union Minister of Finance and Corporate Affairs Nirmala Sitharaman carrying the Budget tablet More news on Union Budget 2024-25 Budget: Sitharaman announces financial aid for student loans up to ₹ 10 lakh A panel of experts from Indian …

Old vs proposed income tax slabs under new regime. What has changed?
5 months ago

Old vs proposed income tax slabs under new regime. What has changed?

Hindustan Times  

Union finance minister Nirmala Sitharaman on Tuesday proposed a new tax structure under the new regime. Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty The new tax slabs under the new income tax regime will be effective from April 1, 2024.. Proposed Tax Structure: Income up to ₹ 3,00,000: Nil 3,00,000: Nil ₹ …

Budget 2024: Modi govt reduces fiscal deficit target to 4.9 per cent of GDP for FY25
5 months ago

Budget 2024: Modi govt reduces fiscal deficit target to 4.9 per cent of GDP for FY25

India TV News  

Union Budget 2024: In her presentation of the Union Budget for the fiscal year 2024-25, Union Finance Minister Nirmala Sitharaman announced a fiscal deficit target of 4.9 per cent of the gross domestic product. This marks a significant reduction from the target set in the Interim Budget presented on February 1, which pegged the fiscal deficit at 5.1 per cent …

Budget 2024: FM Nirmala Sitharaman lays out nine priorities of the Modi govt
5 months ago

Budget 2024: FM Nirmala Sitharaman lays out nine priorities of the Modi govt

Op India  

Finance Minister Nirmala Sitharaman, in her seventh consecutive Union Budget for 2024-25, outlined key priorities aimed at fostering economic growth and creating ample opportunities. She listed productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development and next-generation reforms as nine priority areas …

Budget 2024: Income tax slabs changed, standard deduction increased. Read details
5 months ago

Budget 2024: Income tax slabs changed, standard deduction increased. Read details

Op India  

On Tuesday, Finance Minister Nirmala Sitharaman presented the Annual Financial Statement before the Lok Sabha. The Finance Minister has given relief to taxpayers who choose to opt for the New Tax regime as the tax slabs have been revised and the Standard deduction limit has been increased from Rs 50,000 to Rs 75,000. Personal Income Tax: The Union Finance Minister …

Budget 2024 Highlights on income tax: FM Sitharaman revises personal income tax slabs; taxation rates remain unchanged
5 months ago

Budget 2024 Highlights on income tax: FM Sitharaman revises personal income tax slabs; taxation rates remain unchanged

The Hindu  

Finance Minister Nirmala Sitharaman in her seventh Budget speech on July 23 revised the tax slabs under the new regime. Whilst the rate of taxation remains unchanged, the size of each of the slabs, excluding the initial zero to ₹3 lakh, remains unchanged. Budget 2024-25: Taxes Earlier, the Finance Minister further placed increasing the standard deduction for salaried employees from …

What Budget means for taxpayers: 10 points
5 months ago

What Budget means for taxpayers: 10 points

Hindustan Times  

Finance Minister Nirmala Sitharaman on Tuesday announced a major relief for the subscribers of the new income tax regime. Nirmala Sitharaman announced the government has increased the income tax standard deduction for those who opted for the new regime. "For those opting for the new tax regime, the standard deduction for salaried employees to be increased from ₹ 50,000 to …

FM Says Salaried Employees Under New Tax Regime To Save Rs 17,500 Annually, Here's How
5 months ago

FM Says Salaried Employees Under New Tax Regime To Save Rs 17,500 Annually, Here's How

News 18  

Budget 2024: Salaried employees under new tax regime to save up to Rs 17,500 annually in taxes due to changes proposed in Budget FY25, announced Finance Minister Nirmala Sitharaman on Tuesday. The new tax slabs under the new income tax regime will be effective from April 1, 2024.. FM proposed the following changes in the new tax regime; – Standard …

Union Budget 2024: 7 key figures to gauge Indian economy's health under Sitharaman
5 months ago

Union Budget 2024: 7 key figures to gauge Indian economy's health under Sitharaman

Hindustan Times  

Union finance minister Nirmala Sitharaman presents the Union Budget 2024 in Parliament today, marking her seventh consecutive budget, surpassing the late Morarji Desai's record of six. Follow- Budget 2024 Live Updates Key numbers to watch for the first full Budget of Modi 3.0 Fiscal Deficit: • The budgeted fiscal deficit for the current fiscal year is projected at 5.1%, down …

Budget 2024: What Will Get Cheaper and What Will Get More Expensive? Hear from Experts | ABP News
5 months ago

Budget 2024: What Will Get Cheaper and What Will Get More Expensive? Hear from Experts | ABP News

ABP News  

Modi 3.0 First Budget: Finance Minister Nirmala Sitharaman will present the central budget on July 23 at 11 AM. This will be the first budget of the third term under Prime Minister Narendra Modi’s leadership and Finance Minister Sitharaman's seventh consecutive budget. Sitharaman will break the record of former Prime Minister Morarji Desai, though Desai still holds the record for …

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know
5 months ago

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know

India TV News  

Union Budget 2024: The general population, particularly those in the salaried and middle-class brackets, are anticipating significant relief measures from the government through the budget being presented today. They recommend raising the 30 per cent tax slab to apply on income exceeding Rs 20 or 25 lakh, instead of the current Rs 15 lakh limit. Additionally, there is a call …

Budget 2024: How stock market has performed on Budget day in last 10 years? | Know here
5 months ago

Budget 2024: How stock market has performed on Budget day in last 10 years? | Know here

India TV News  

Budget 2024: Finance Minister Nirmala Sitharaman is set to present the Union Budget in Parliament at 11 am today. The budget has been a major trendsetter for the Indian stock market, with major volatility seen in the stock market upon its announcement. Year Nifty performance on budget day 2024 -0.13 2023 -0.2 2022 1.4 2021 4.7 2020 -2.5 2019 -1.1 …

Income Tax Budget Highlights: Govt proposes tax cuts, more standard deduction
5 months ago

Income Tax Budget Highlights: Govt proposes tax cuts, more standard deduction

Hindustan Times  

New Tax Regime LIVE updates: Union Finance Minister Nirmala Sitharaman presents the Union Budget 2024-25 in Lok Sabha, in New Delhi, Tuesday, July 23, 2024. New Tax Regime Highlights: Union finance minister Nirmala Sitharaman presented her seventh consecutive Budget amid expectations from the middle class for relief at the tax front. Moreover, the efficiency of tax collection has improved over …

New tax regime slabs revised, standard deduction hiked to Rs 75,000. Details here
5 months ago

New tax regime slabs revised, standard deduction hiked to Rs 75,000. Details here

India Today  

Finance Minister Nirmala Sitharaman revamped income tax slabs under the new regime in Union Budget 2024 in a bid to make it more attractive. The Finance Minister said that the tweaked tax slabs would save salaried individuals Rs 17,500 annually under the new regime. The updated tax slabs are as follows: income up to Rs 3 lakh will be taxed …

Budget 2024 announcements on new tax regime: Standard deduction increased, check new tax slabs
5 months ago

Budget 2024 announcements on new tax regime: Standard deduction increased, check new tax slabs

India TV News  

Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. Informing that fiscal deficit estimated at 4.9% of GDP, Sitharaman said that the people have reposed their faith in the government led by PM Modi and re-elected it for the historic third term. Sitharaman said, "I announce a comprehensive review of the Income Tax Act …

Budget 2024 HIGHLIGHTS: Andhra Pradesh, Bihar major gainers; special focus on jobs, new tax regime
5 months ago

Budget 2024 HIGHLIGHTS: Andhra Pradesh, Bihar major gainers; special focus on jobs, new tax regime

India TV News  

Uttar Pradesh CM Yogi Adityanath's reaction on Union Budget: "Under the guidance of PM Modi, in the new parliament of the country, the Finance Minister has laid down the general budget of the country which is - inclusive, development-oriented and one which will fulfil the aspirations of 140 cr people. The new tax slabs announced in the budget are welcoming." …

Union Budget 2024: Read Finance Minister Nirmala Sitharaman's full speech
5 months ago

Union Budget 2024: Read Finance Minister Nirmala Sitharaman's full speech

India Today  

Union Finance Minister Nirmala Sitharaman presented the first budget of the Narendra Modi government’s third term on Tuesday in Parliament. Budget Priorities Productivity and resilience in Agriculture Employment & Skilling Inclusive Human Resource Development and Social Justice Manufacturing & Services Urban Development Energy Security Infrastructure Innovation, Research & Development and Next Generation Reforms Subsequent budgets will build on these, and …

Budget 2024: Date, key timings and what to expect from budget speech
5 months ago

Budget 2024: Date, key timings and what to expect from budget speech

India Today  

The Monsoon session began on Monday, with Finance Minister Nirmala Sitharaman set to present the Union Budget for 2024-25 on July 23, 2024. This will mark her seventh consecutive Budget presentation, surpassing the record of former Prime Minister Morarji Desai, who delivered five consecutive full Budgets and one interim Budget from 1959 to 1964. The Budget 2024 presentation can be …

Union Budget 2024: 6 new changes to income tax that the new budget may bring
5 months ago

Union Budget 2024: 6 new changes to income tax that the new budget may bring

Hindustan Times  

As the Union Budget 2024 is scheduled to be presented on July 23 by Finance Minister Nirmala Sitharaman, there are expectations of multiple changes in income tax, including changes in tax slabs, a potential hike for standard deduction, and increased exemptions. The current slabs for the new tax regime are as follows: Up to ₹3 lakh: NIL ₹3-6 lakh: 5% …

Budget 2024: Why Dalal Street investors are nervous and what to expect on July 23
5 months ago

Budget 2024: Why Dalal Street investors are nervous and what to expect on July 23

India Today  

Benchmark stock market indices were trading flat on Monday as investors awaited Finance Minister Nirmala Sitharaman's Budget 2024 presentation on July 23. There is a palpable sense of caution among market participants due to high expectations related to tax relief, both in terms of personal income tax and capital gains taxation. Market investors cautious ahead of budget There is a …

Sitharaman to present Budget 2024: Understanding the Budget, its impact on India's economy
5 months ago

Sitharaman to present Budget 2024: Understanding the Budget, its impact on India's economy

India TV News  

Finance Minister Nirmala Sitharaman will present the Union Budget 2024–25 on Tuesday, marking the first budget of Prime Minister Narendra Modi's third successive government. By adjusting tax policies and government spending, the budget can incentivize business investments, boost economic activity, and address public needs such as education and healthcare. The presentation of the Union Budget 2024–25 will be a critical …

Budget 2024: Will FM Nirmala Sitharaman fulfill your income tax wishes?
5 months ago

Budget 2024: Will FM Nirmala Sitharaman fulfill your income tax wishes?

India Today  

Finance Minister Nirmala Sitharaman is all set to present the full Budget 2024 on July 23. With various sectors anticipating significant announcements, salaried taxpayers are particularly hopeful for major income tax relief, including changes in the new income tax regime and standard deductions. Despite positive expectations for the budget, significant tax relief for the middle class may not materialise. Sandeep …

Budget 2024: Will Nirmala Sitharaman bring cheer to middle-class with income tax changes?
5 months ago

Budget 2024: Will Nirmala Sitharaman bring cheer to middle-class with income tax changes?

Hindustan Times  

The Union Budget 2024 could provide Income Tax relief for low earners looms large amid rising prices in the country. Experts believe that a reduction in Income Tax could address economic challenges in the country as Finance Minister Nirmala Sitharaman is set to present the Union Budget for the fiscal year 2024-25 on July 23. This change would boost consumption, …

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23
5 months ago

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23

Hindustan Times  

Finance minister Nirmala Sitharaman is set to present the Union Budget on July 23. Taxpayers are expecting a potential hike in standard deduction, relief in income tax rates and an increase in Section 80C exemptions in the Budget. Experts believe that adjustments to income tax slab rates could be seen in the Budget as the Finance Minister might announce tax …

Budget 2024: What income tax benefits can taxpayers expect on July 23?
5 months ago

Budget 2024: What income tax benefits can taxpayers expect on July 23?

India Today  

Taxpayers are eagerly waiting for July 23 when Finance Minister Nirmala Sitharaman will present the full budget for the ongoing financial year. Income tax exemption limit There is speculation that the government may raise the income tax exemption limit from Rs 3 lakh to Rs 5 lakh. If implemented, individuals earning up to Rs 8.5 lakh annually could potentially pay …

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