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:

Gold Rate

Aug 26 ,2026 - Time 10.30Hrs

Gold 24 KT ₹ 1 62,400 /-

Gold 22 KT ₹ 1,50,700 /-

Silver/Kg ₹ 2,45,800/-

Platinum ₹ 88,000/-

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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