Income Tax Expectations Budget 2024: What are the ideal new tax regime slabs, rates for middle class, salaried? TOI Online Survey findings

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Income Tax Expectations Budget 2024: What are the ideal new tax regime slabs, rates for middle class, salaried? TOI Online Survey findings - Times of India

Quick Summary:

Budget 2024 income tax expectations: Expectations are high that more changes may be brought in the new income tax regime - possibly raising the basic exemption limit, hiking standard deduction, or/and rationalising the income tax slabs and tax rates further.

Budget 2024 income tax expectations: What can salaried taxpayers expect from Budget 2024 for the new income tax regime?

The new income tax regime was first introduced in 2020 and in the 2023 Budget further tweaks were made to popularise it amongst the common man and middle class salaried taxpayers.