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Govt mulling Relief for lower income Tax Bracket
Print Govt mulling Relief for lower income Tax Bracket
India's upcoming February 2025 budget might offer tax relief to lower-income groups (3-7 lakh slabs) under the new regime. While higher slabs may see no significant changes, the government may raise the exemption limit beyond 3 lakh.
The upcoming Budget that will be presented by Finance Minister Nirmala Sitharaman in February 2025 is likely to provide relief to the low-income group with tax reduction expected in the Rs 3 lakh - Rs 7 lakh tax slab under the new regime, reported ET Now quoting their sources.
As per the report, the government may increase the exemption limit beyond Rs 3 lakh under the new regime.
Tax cuts for higher slabs?
While big relief is being hoped for the lower-income group, as of now, there are no significant changes expected for higher tax slabs, reported ET Now quoting its sources.
India's upcoming February 2025 budget might offer tax relief to lower-income groups (3-7 lakh slabs) under the new regime. While higher slabs may see no significant changes, the government may raise the exemption limit beyond 3 lakh.
The upcoming Budget that will be presented by Finance Minister Nirmala Sitharaman in February 2025 is likely to provide relief to the low-income group with tax reduction expected in the Rs 3 lakh - Rs 7 lakh tax slab under the new regime, reported ET Now quoting their sources.
As per the report, the government may increase the exemption limit beyond Rs 3 lakh under the new regime.
Tax cuts for higher slabs?
While big relief is being hoped for the lower-income group, as of now, there are no significant changes expected for higher tax slabs, reported ET Now quoting its sources.
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