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Articles for Salaried Individuals, search results for taxpayers

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 …

Finance Tax Income Lakh Regime Individuals Stand
Budget 2024: Will these non-metro cities get 50% HRA exemption?
5 months, 3 weeks ago

Budget 2024: Will these non-metro cities get 50% HRA exemption?

India Today  

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 …

Salary Bengaluru Delhi Mumbai Kolkata Tax Chennai
Interim budget 2024: Can taxpayers expect relief? 5 anticipated changes
11 months, 1 week ago

Interim budget 2024: Can taxpayers expect relief? 5 anticipated changes

India Today  

The Interim Budget 2024 looms just days away, and a wave of expectations is sweeping across various sections of taxpayers, particularly the middle-class, with hopes of significant tax reliefs. Now, after nearly five years, there is a growing call for parity between businessmen and professionals, urging an official expense standard deduction of at least Rs 1,00,000 in 2024. To bring …

Tax Individuals Deduction Expect Limit Lakhs Salaried Individuals
Interim Budget 2024: Will standard deduction of Rs 50,000 get a hike?
11 months, 1 week ago

Interim Budget 2024: Will standard deduction of Rs 50,000 get a hike?

India Today  

The Interim Budget 2024 is just around the corner and the middle-class taxpayers are holding their breath, hopeful for some relief in the form of income tax concessions. A report from Anand Rathi talks about how a higher standard deduction is needed for salaried taxpayers to ease taxes for middle and lower-income groups without many investment options. Standard Deduction over …

Tax Budget Medical Expenses Income Increase Gst Standard