Union Budget 2024: Revision in personal income tax slabs

For those opting for the new tax regime, the standard deduction for salaried employees to be increased from Rs 50,000 to Rs 75,000. Read further on Dynamite News:

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday announced new structure in Budget 2024 in personal income tax slabs.

The tax structure in new tax regime is proposed as follows:

₹0 - Rs3 lakh will not pay taxes.

Rs3 lakh - Rs7 lakh: 5%. 

Rs7 lakh - ₹10 lakh: 10%. 

Rs10 lakh - Rs12 lakh: 15%.

For those opting for the new tax regime, the standard deduction for salaried employees to be increased from Rs 50,000 to Rs 75,000.