look news india
Budget 2024: The Finance Minister has announced a big relief for millions of taxpayers of the country. The Finance Minister has announced to give relief to the taxpayers by changing the income tax slab. In the budget speech, the Finance Minister said that in the new tax system, the standard deduction will be increased from Rs 50 thousand to Rs 75 thousand. Along with this, the tax structure will also be changed.
These will be the new rates in the new tax system
0-3 lakh rupees- zero
Rs 3-7 lakh – 5 percent
Rs 7-10 lakh – 10 percent
Rs 10-12 lakh – 15 percent
Rs 12-15 lakh – 20 percent
Above Rs 15 lakh – 30 per cent
Under the new tax system, salaried people can save Rs 17,500 in income tax. Union Finance Minister Nirmala Sitharaman says that the new tax system will cause the government to lose revenue of Rs 7,000 crore and will benefit four crore salaried people.
