Budget 2024 Highlights On Income Tax: Revised Tax Slab In New Tax Regime
Income tax slab for AY 2024-25 for salaried person : As per FM’s announcement, following will be the new tax slab in the New Tax Regime
Bringing the much needed cheer to the salaried individuals, Finance Minister Nirmala Sitharaman on Tuesday announced revisions in the New Tax Regime.
– 5% tax on income up to Rs 3-7 lakh
– 10% tax on income up to Rs 7-10 lakh
– 15% tax on income up to Rs 10-12 lakh
– 20% tax on income up to Rs 12-15 lakh
– 30% tax on income above Rs 15 lakh
Meanwhile, the FM has also announced sops for individuals opting for new tax regime. FM has announced to increase the standard deduction from Rs 50,000 to Rs 75,000.
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