Budget 2024 has arrived, let's see what changes have happened.
Increase rebate limit to 7 Lakh in new tax regime. With income upto 7 Lakh will not have to pay tax.
An individual with an annual income of 9 lakh will only have to pay 45000 rupees.
Each salaried person with an income of 15.5 lakh rupees or more will be benefitted by 52,500 rupees.
Personal income tax reduced from 37% to 25% in the new tax regime.
The pensions for government salaried employees increased to 25 Lakh rupees.
The new income tax regime will be default tax regime; however citizens will have the option to avail the old tax regime.