2024 Tax Slab. The standard deduction under the new income tax regime has also been hiked from the present rs 50,000 to rs 75,000. Cess will be levied at 4% on income tax amount.
Taxpayers can now benefit from revised tax slabs, along with an increased standard deduction and an enhanced family pension deduction. Surcharges will be levied on incomes exceeding rs 50 lakh.
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