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.
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In a recent statement, Finance Minister Nirmala Sitharaman addressed the long-standing issue of refund claims from Sahara Group and PACL Ltd. Her response was clear: affected individuals will need to pursue their claims through the courts. Discover the details of her reply and what it means for those awaiting refunds. Will this signal the end of their long struggle? Watch now to get the full story and understand the implications for thousands of investors.
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