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Dynamite News

National

DN Bureau

Union Budget 2024: Revision in personal income tax slabs

Income Tax

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.

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