Published On : Tue, Jul 23rd, 2024
By Nagpur Today Nagpur News

Union Budget 2024: Relief for taxpayers under new income tax regime

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New Delhi: The government announced significant changes to the new tax regime. The standard deduction has been increased from Rs 50,000 to Rs 75,000. Pensioners will benefit from a higher deduction on family pension, which has been raised from Rs 15,000 crore to Rs 25,000 crore.

Under the new tax regime, the tax slabs have been revised as follows:

Today’s Rate
Friday 08 Nov. 2024
Gold 24 KT 77,800 /-
Gold 22 KT 72,400 /-
Silver / Kg 93,200 /-
Platinum 44,000 /-
Recommended rate for Nagpur sarafa Making charges minimum 13% and above

Income up to Rs 3 lakh: Nil tax
Income between Rs 3 lakh and Rs 7 lakh: 5% tax
Income between Rs 7 lakh and Rs 10 lakh: 10% tax
Income between Rs 10 lakh and Rs 12 lakh: 15% tax
Income above Rs 15 lakh: 30% tax

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