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Illustration of a citizen paying tax. | Photo Credit: Getty Images The 2024-25 Budget is not just an account of receipts and expenditures for the financial year; it also sets the stage for several years in terms of expectations. Taking off from the analysis in the Economic Survey, the Budget identifies priority areas for government…
The Finance Minister had stated in her address that more than two-thirds of the taxpayers had availed the new regime in the previous fiscal year. | Photo Credit: 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…
New Delhi: Standard deduction in the new tax regime will be increased from Rs 50,000 to Rs 75,000, Finance Minister Nirmala Sitharaman said Tuesday as she announced the 2024 Union Budget. Ms Sitharaman also announced revisions to tax slabs in the new regime. As a result, the Finance Minister told Parliament, salaried employees can save…
