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Budget 2024: Rebate Under Section 87A Decreases By Rs 5K As Tax Structure Under New Tax Regime Revised -- Understanding The Math

Zee News Wednesday, 24 July 2024
After the revised tax structure under the New Tax Regime, the refund received has been decreased by Rs 5,000 due to latest proposed tax slabs. Continue reading to find out how the change in tax slab has affected your rebate.
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Video Credit: Oneindia - Published
News video: Budget 2024: New Income Tax Slabs & Rate Cuts Will Benefit the Middle Class?| Explained

Budget 2024: New Income Tax Slabs & Rate Cuts Will Benefit the Middle Class?| Explained 05:45

 Finance Minister Nirmala Sitharaman revised tax slabs in the new regime, expanding the first taxable bracket from ₹3-6 lakh to ₹3-7 lakh, while maintaining the 5% tax rate. Standard deductions were increased, but details weren't provided. No changes were made for incomes below ₹3 lakh, the...

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