Income Tax Slab: Standard deduction increased from Rs 50,000 to Rs 75,000- check details

Budget 2024: In the budget, the Finance Minister has increased the standard deduction in the new tax regime for salaried people. It has been increased from Rs 50,000 to Rs 75,000.

At the same time, the Finance Minister has increased the long term capital gain tax and short term capital gain tax on all financial and non-financial assets. Now LTCG will be taxed at the rate of 12.5%. Additionally, the exemption limit for capital gains will be fixed at Rs 1.25 lakh per annum. At the same time, STCG will be taxed at the rate of 20 percent.

New Tax Slab in Budget 2024-25

  • 0-3 lakh rupees: 0
  • Rs 3-7 lakh: 5%
  • 7-10 lakhs: 10%
  • Rs 10-12 lakh: 15%
  • Rs 12-15 lakh: 20%
  • Above Rs.15 lakh: 30%

Also Read : Budget Expectations: GST should be reduced on insurance products, government should increase the limit of 80C – Industry

  • Related Posts

    Income Tax: Government has stopped the shortcut of saving tax on flat rent

    Finance Minister Nirmala Sitharaman on Tuesday presented the first general budget (Budget 2024) of Modi Government 3.0. In this, some announcements were made for every section. A new rule has…

    Employed people Update: Basic tax exemption limit will be ₹5 lakh in the budget! Employed people in focus

     New Delhi: Amid the slowdown in expenditure by common people on goods and services, the government may give some concessions on the tax front in the general budget to be…

    One thought on “Income Tax Slab: Standard deduction increased from Rs 50,000 to Rs 75,000- check details

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Ration Card Rules: No Need To Card for Ration, Government changed the rules

    Ration Card Rules: No Need To Card for Ration, Government changed the rules

    Ayushman Bharat: Senior citizens aged 70+ cannot apply without this document, check details

    Ayushman Bharat: Senior citizens aged 70+ cannot apply without this document, check details

    New UPI transaction limits announced! Check new per transaction limits for UPI Lite Wallet & UPI 123Pay

    New UPI transaction limits announced! Check new per transaction limits for UPI Lite Wallet & UPI 123Pay

    New rules of Toll Tax will be implemented from today, Toll Tax has become expensive on this route

    New rules of Toll Tax will be implemented from today, Toll Tax has become expensive on this route

    New Telecom Rules: Telecom rules will change from October 1, customers will not face any problem

    New Telecom Rules: Telecom rules will change from October 1, customers will not face any problem

    Electricity smart meter: Big update regarding smart meter on new electricity connection, check details immediately

    Electricity smart meter: Big update regarding smart meter on new electricity connection, check details immediately