Advertisement
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:
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
Advertisement
Advertisement
