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.
