New Tax Regime 2024. The chancellor announced in the spring budget 2023 that the lifetime allowance (lta) will be abolished from 6 april 2024. Advantages of the implementation of new tax regime.
Despite efforts to make it. The maximum exemption limit will be rs 3 lakh and for every additional rs 3 lakh income, the next slab rate will apply.
The New Tax Regime, Introduced In 2020, Aims At Offering Lower Tax Rates By Eliminating Certain Exemptions And Deductions.
These changes are now law.
The Chancellor Announced In The Spring Budget 2023 That The Lifetime Allowance (Lta) Will Be Abolished From 6 April 2024.
The highest surcharge rate under the new tax regime has been reduced from 37% to 25%, potentially easing the overall tax burden for some.
In Order To Promote More Taxpayers To Opt For New Tax Regime, It Is Expected That The Government Would Further Reduce The Tax.
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The New Tax Regime Offers A Higher Threshold For Tax Relief, Broader Tax Slabs And Reduced Tax Rates.
The maximum exemption limit will be rs 3 lakh and for every additional rs 3 lakh income, the next slab rate will apply.
On 25 January 2024, The Government Announced Changes To Individual Income Tax Rates And Thresholds From 1 July 2024.
Here’s the revised tax slabs introduced in the.
The New Tax Regime, Introduced In 2020, Aims At Offering Lower Tax Rates By Eliminating Certain Exemptions And Deductions.
