New Budget 2024 For Salaried Employees. New scheme for internship in 500 top companies to 1 crore youth in 5 years; Budget 2024 is likely to make announcements in favour of salaried individuals.
The highlights of the budget are as follows: On february 1, finance minister nirmala sitharaman presented the union budget 2024 in the lok sabha, marking it as an interim budget due to its proximity to the upcoming lok sabha elections.
These Measures Are Expected To Provide Substantial Tax Relief, Potentially Saving Salaried Individuals Up To ₹17,500 Annually.
The new tax slabs under the new income tax regime will be effective from april 1, 2024.
The Income Bracket Up To Rs 7 Lakh Will Now Attract A 5 Per Cent Tax Rate.
10 percent tax liability will be levied on income up to rs 10 lakh instead of only rs 9 lakh earlier.
New Budget 2024 For Salaried Employees Images References :
Budget 2024 For Salaried Taxpayers:
However, some relief measures were announced in the 2019 interim budget, such as an increase in the standard deduction available to salaried individuals and income up to inr 5 lakh being exempt from income tax, etc.
Key Changes Include Raising The Standard Deduction For Salaried Employees From ₹50,000 To ₹75,000 And Increasing Family Pension Deductions.
Tax rates for other income brackets continue to remain the same.