Union Budget 2024 | Income Tax Slabs Rate 2024 Updates | Old Tax Regime Vs New Tax Regime | N18V

Union Budget 2024 | Income Tax Slabs Rate 2024 Updates | Old Tax Regime Vs New Tax Regime | N18V

Finance Minister Nirmala Sitharaman has effected some changes to tax slabs under the new tax regime. Now, taxpayers earning up to Rs 3 lakh will pay NIL tax. On Rs 3 lakh to Rs 7 lakh income, 5% income tax would be imposed and Rs 7 lakh to Rs 10 lakh income would attract 10% tax.

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[muneerm]

No use for salaried employees considering the inflation rate for the last 10 years. Shame on you...

[Vishwakuchangi]

Nothing for salaried class, the ones who truly pay taxes are not given any benefits. Just 17.5k, what a joke

[jaychandran]

Angel tax was a good one, everything else lacks luster.

[anirbandas]

Nothing to combat inflation ... budget is a joke ...

[vigneshravi]

3rd time BJP is the biggest mistake India made..

[happygilmor]

Salaried class is let down by this budget..not a single good point to cheer about..pretty depressing...

[GokulGowtham]

Private employee or salaried.. getting no benefits as usual 🙂

We are paying tax 💯, and GST on goods and services. Not eligible for any government schemes, not even for children. 🙂

Nothing to say, rather giving all hard earned money to looters pocket 😊

[franciskt]

Should abolish personal income tax, and compensate that with indirect taxes or thru reduced defence spendings. 😮

[nikhilbiswas]

You should looked on the matter of inflation & increase cost of essential commodities during declear income tax slabes

[vineen]

They are looting investors simple, I oppose this budget

[joyballav]

Ai Tax ar madhya immediately all politicians ke ante hobe r Govt kono natok kore Ambani Adani etc ke tax mukub korte parbe na ba Bank loan mukub korte parbe na

[derekjoe]

Removing indexation is going to hurt the people.

Indexation accounts for inflation in cost of acquisition of an asset. Say you bought something for Rs. 100 today and hold the asset for 10 years. Assuming an average inflation rate of 6%, the cost of acquisition will be 179 after 10 years.

Now say you sell it for 250 after 10 years. With indexation you'll be making a profit of 71 on which 20% tax was applicable, amounting to 14.2. Without indexation, your profit will be 150 on which 12.5% tax amounts to 18.75. So now you're paying more tax. Increase the number of years of holding, and see the gap rise dramatically in tax paid. Say for 20 years and 450 selling price the taxes will be 25.8 and 43.75 respectively.

[gouravkarora]

jhunjhuna again in public domain as expected earlier.