Union Budget 2024: Check Out Revised Tax Slabs in New Regime

Union Budget 2024: In an effort to provide relief to the salaried individuals and tax payers, Finance minister Nirmala Sitharaman on Tuesday announced revised tax slabs in the new tax regime. She also announced standard deduction in the new tax regime will be increased from Rs 50,000 to Rs 75,000. 

The revised tax slabs will help the salaried employees to save as much as rs 17,500 under the New Tax Regime, she added. Sitharaman further said deduction on family pension for pensioners will be increased from Rs 15,000 to Rs 25,000. The Centre has abolished the angel tax for all classes of investors to boost the start-up ecosystem. 

The new tax slabs under the New Tax Regime are as follows: 

Income Tax slabs (Rupees)      Income Tax rate (percentage)

Rs 0-3 lakh                                               Nil 

Rs 3-7 lakh                                               5%

Rs 7-10 lakh                                            10%

Rs 10-12 lakh                                          15%

Rs 12-15 lakh                                          20%

Above Rs 15 lakh                                    30%

Budget 2024: Key Features

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