Brief by Shorts91 Newsdesk / 07:38am on 23 Jul 2024,Tuesday India
Finance Minister Nirmala Sitharaman has announced changes to the new tax regime in the 2024 Union Budget. The standard deduction has been increased from ₹50,000 to ₹75,000. Revised tax slabs will also benefit salaried employees, with potential savings of up to ₹17,500. Additionally, the family pension deduction for pensioners has been raised from ₹15,000 to ₹25,000. These changes will benefit around four crore salaried individuals and pensioners. The old tax slabs remain unchanged. These updates aim to provide tax relief to eligible individuals, effective from the current financial year.
