Budget 2024 Highlights For Income Tax. It also increased the standard deduction limit to rs 75,000 from rs 50,000 under the. In a major relief to taxpayers, the finance minister in the union budget 2024 has introduced a new tax regime that allows individuals with income up to rs 7.75 lakh to pay zero.

Key tax reforms include rationalising capital gains tax, reassessment timelines, and tds/tcs framework, abolishing angel tax and equalisation levy, introducing a specific tax regime for. Income tax budget 2024 live: