Income Tax Rebate In Budget 2024 India

Income Tax Rebate In Budget 2024 India. Currently, section 87a allows individuals to claim a tax rebate of rs 12,500 under the old tax regime and rs 25,000 under the new tax regime. Income tax slabs relaxed from incomes up to rs 10 lakh.

Shalini jain, tax partner, people advisory services, ey india says, the changes announced in the income tax slabs will lead to savings up to rs 17,500 for taxpayers opting for new. In a major relief to taxpayers, the finance minister in the union budget 2024 has introduced a new tax regime that allows individuals with income up to rs 7.75 lakh.