Budget Changes Income Tax: Did Sitharaman Just Ask You To Pay More Despite Poll Result? We Calculate

Finance Minister Nirmala Sitharaman’s Union Budget 2024 introduced some major changes to the new income tax regime, aimed at boosting consumer spending and economic growth.The tax rate for annual incomes between Rs 3 lakh and Rs 7 lakh has been reduced to 5%, expanding from the previous Rs 6 lakh limit. In addition, the Rs 6 lakh to Rs 9 lakh slab, taxed at 10%, now applies to those earning up to Rs 10 lakh per annum. This will be beneficial for salaried individuals earning up to Rs 10 lakh per annum.

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