The FM brought in some major changes in the New Tax Regime noting that the key feature of the new regime is its reduced tax rate in comparison to the old regime, which still maintains its selection of deductions and exemptions.
New income tax slab announced
Up to 3,00,000: Nil
From 3,00,001 to 7,00,000: 5%
From 7,00,001 to 10,00,000: 10%
From 10,00,001 to 12,00,000: 15%
From 12,00,001 to 15,00,000: 20%
Above 15,00,000: 30%
The tax slabs for Old Tax Regime will remain the same.
#nirmalasitharaman #nirmalasitharamanspeech #budget2024 #budgetsession2024 #unionbudget2024 #financeminister #bjp #pmmodi #narendramodi #incometax #newstaxregime #indiatoday
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