Income tax relief? Govt looks to raise threshold, restructure slabs

Quick Summary:

The government is considering raising the standard deduction and adjusting income tax slabs in the upcoming Budget to alleviate middle-class burden.

Concessions for health insurance and pension, and benefits for home loans are being discussed.

However, officials prefer maintaining the new tax regime without additional exemptions to avoid complexities resembling the old system.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: India

Topics: Standard Deduction Budget 2024 New Tax Regime Business news Income Tax Relief Tax Slabs Restructure

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-27 @ 07:52:41 (2 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 1020 words

Reading Time: 6 minutes read

Sentences: 34 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 25471332

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