Tue, Jul 23, 2024
Standard Deduction Limit and New Tax Slabs: In her Budget 2024 speech on Tuesday (July 23, 2024), finance minister Nirmala Sitharaman increased the standard deduction limit from Rs 50,000 to Rs 75,000 in the new tax regime. She also introduced three new tax slabs in the new regime. The government hasn't made any changes in the old tax regime.
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Mon, Jul 22, 2024
Tax Slab Changes since 1947: During her Union Budget 2024 speech, Nirmala Sitharaman on Tuesday (July 23, 2024) introduced three new tax slabs in the new tax regime. She also increased the standard deduction limit from Rs 50,000 to Rs 75,000 under the new tax regime. There was no change in the old tax regime.
Fri, Jul 19, 2024
Budget 2024: Finance Minister Nirmala Sitharaman will present the General Budget 2024 on July 23. According to sources, this year's budget may bring relief to the middle class, with possible tax concessions for those earning up to Rs 12 lakh.
Tue, Jan 02, 2018
Every year the government revises the income tax slab rates during the budget. Various deduction are allowed to a taxpayer under Section 80C and Section 80D.
Wed, Dec 27, 2017
If you are a salaried person and earn up to Rs 2.5 lakh, you are not liable to pay any income tax. However, if you earn between Rs 2.5 lakh and Rs 5 lakh, you have to pay 5% income tax.
Mon, May 08, 2017
The lower income tax for single women has been considered on the back of rise in this particular segment of population.
Wed, Feb 01, 2017
A surcharge of 15% will be applicable on income above Rs 1 crore to continue.
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