Financial knowledge
Indian Tax slabs
Income tax slabs categorize taxpayers based on their annual income, determining the applicable tax rates. Here's a breakdown:
1. Nil Tax: Annual income up to ₹2.5 lakh for individuals below 60 years.
2. 5% Tax: I
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Was it a Budget of expectations?
The Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman introduced changes to the income tax regime, for salaried employees & those opting for the new tax regime.
1. Standard Deduction Increase: T