When Is Tax Rebate 2024. In budget 2023, rebate under new regime has been increased to rs. The income thresholds used to calculate the amounts are $39,115 for individuals and $50,170 for families.
Under budget 2023, the government announced that any individual opting for the new tax regime and having taxable income up to rs. The finance minister made changes in the income tax slabs under the new tax regime.
Hence, An Individual Will Need To Analyse Between The Old.
Finance ministry clarifies no new tax changes from april 1, 2024.
The Finance Minister Made Changes In The Income Tax Slabs Under The New Tax Regime.
Effective april 1, 2023, the basic exemption limit under the new tax regime has been raised to rs 3 lakh from rs 2.5 lakh, as announced in the budget.
In The New Income Tax Regime, The Rebate Eligibility Threshold Is Set At Rs 7,00,000, Allowing Taxpayers To Claim A Rebate Of Up To.
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Resident Individual Whose Total Income Is Not More Than โน 5,00,000 Is Also.
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Which Financial Year Do You Want To Calculate Taxes For?
Finance minister nirmala sitharaman has not made any increase in the tax.