New Tax Brackets 2024 India – Last year, while presenting the Union Budget for the financial year 2023-2024, Nirmala Sitharaman proposed a host of changes to make the new income tax regime attractive. As announced in the last . It has been almost 5 years since standard deduction was revised; the previous instance was in 2019. There are many compelling reasons to raise the limit of the standard deduction from Rs 50,000. .

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New Tax Brackets 2024 India Income Tax Slabs FY 2023 24 and AY 2024 25 (New & Old Regime Tax : The current maximum deduction limit under Section 80C stands at Rs. 1.5 lakh, prompting many individuals to strategically utilise these deductions. . The measures, along with announcements to improve the direct tax system, are those which the government feels will not hurt the fiscal deficit numbers now .