Currently, the Indian taxpayers have two regimes to choose from-New tax regime and the old tax regime. The old regime includes deductions and several other exemptions and concessions. While, the new tax regime restricts opportunities for tax savings. As of now, the two tax regimes subject an annual income of more than Rs 15 lakh to 30 per cent tax, which makes it difficult for taxpayers to save taxes. The new tax regime eliminates most of the exemptions and deductions leaving the taxpayers in a difficult spot. In today’s Budget 2024, individuals taxpayers expect Union Finance Minister Nirmala Sitharaman to give them relief with the increase in tax exemptions keeping in view rise in inflation.
Budget 2024 Income Tax Slabs and Rates Changes for FY 2024-25 LIVE: Union Finance Minister Nirmala Sitharaman will present the Budget 2024-25 on Tuesday with the people expecting relief in tax exemptions keeping in view rise in inflation and price rise. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
