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Budget 2024 | Government Revamps Tax Regime | What Are The Changes? | | Nirmala Sitharaman | News
Posted
July 23, 2024
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2:58Now PlayingBudget Tax Regime | Finance Minister Nirmala Sitharaman presented the first Budget of the NDA 3.0 government, announcing significant changes in the new income tax regime. Key highlights include a thorough review of the Income Tax Act, increased standard deduction for salaried employees from ₹50,000 to ₹75,000, revised tax slabs, and potential annual savings of up to ₹17,500. The deduction for family pensions was raised from ₹15,000 to ₹25,000. The government also abolished the Angel tax and increased the NPS contribution deduction limit from 10% to 14%. Watch the video for more.
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