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Guwahati, July 23: While presenting the Union Budget for the financial year 2024-25, Finance Minister Nirmala Sitharaman on Tuesday announced changes in the new income tax regime.
In her Union Budget 2024 speech, Sitharaman announced a hike in the standard deduction from Rs. 50,000 to Rs. 75,000 and new income tax slabs for the fiscal year 2024-25.
The following are the new income tax regime tax slabs:
- Up to Rs. 3 lakh- NIL
- From Rs. 3 lakh to Rs. 7 lakh- 5%
- From Rs. 7 lakh to Rs. 10 lakh- 10%
- From Rs. 10 lakh to Rs. 12 lakh- 15%
- From Rs. 12 lakh to Rs. 15 lakh- 20%
- Above Rs. 15 lakh- 30%
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