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 …
The budget season is here and one thing that comes with it are expectations of tax relief from salaried individuals and this year is no different. The HRA tax exemption for salaried individuals in these cities remains lower at 40% because the tax laws have not been updated to reflect the current times. For example, a person living in Bengaluru …
