Budget 2024: New Income Tax Slabs & Rate Cuts Will Benefit the Middle Class?| Explained
Video Credit: Oneindia - Duration: 05:45s - Published
Budget 2024: New Income Tax Slabs & Rate Cuts Will Benefit the Middle Class?| Explained
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 ₹12-15 lakh slab, or incomes above ₹15 lakh.
These adjustments aim to benefit the middle class by potentially reducing their tax burden.
However, the full impact depends on individual financial situations and requires further analysis.
The appeal came from Tushar Sharma, who posted on X, expressing his admiration for the government's efforts while making a 'heartfelt request' for middle-class.. DNA
Responding to a citizen's request for middle-class relief on X, Finance Minister Nirmala Sitharaman acknowledged the concerns and highlighted the Modi.. IndiaTimes
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