In Budget 2024, the Finance Minister Nirmala Sitharaman announced several important changes to income taxes. Income tax slabs in the new tax regime have been changed, and relief has been offered.2. Standard deduction limit for salaried and pensioners hiked to Rs 75,000 - an increase of Rs 25,000 in the new tax regime (NTR)3. Standard deduction limit for family pensioners hiked to Rs 25,000 -an increase of Rs 15,000 (NTR)4. Buying of gold and silver to become cheaper due to a cut in customs dutyFollowing the tax changes that are likely to pinch the taxpayers in the future:1.

Source: Economic Times July 23, 2024 09:42 UTC