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Budget 2024 | How Will The Interim Budget Effect Taxpayers? Will They Relief? | English News
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January 9, 2024
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1:52Now PlayingBudget 2024 | Finance Minister Nirmala Sitharaman is expected to announce taxpayer relief under the new tax regime in the upcoming interim budget, scheduled before the Lok Sabha elections. The Ministry of Finance is discussing proposals to promote the new tax system and simplify taxation, including raising the exemption limit from ₹3.5 lakh to ₹4 lakh. However, discussions are in the early stages. The new tax regime, introduced in 2020, increased the rebate to ₹7 lakh. Past interim budgets have seen key tax reforms, including the Wealth Tax Act (1957-58) and revised exemptions for individuals (2009-10).
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