Basic Exemption Limit
(Search results - 2)IndiaMar 31, 2024, 4:15 PM IST
Income Tax rules from April 1: Everything you need to know about new tax rules and basic exemption limit
Starting from April 1, the new tax regime will come into effect, bringing many changes and additions. Taxpayers can now avail of a basic exemption of Rs. 3 lakh, which was previously Rs. 2.5 lakh.
BusinessMar 20, 2024, 9:50 AM IST
Simplified: Exemptions under the new income tax regime
The government offers taxpayers a choice between the traditional old regime, which includes numerous deductions and exemptions, and the new regime with simplified structures and lower tax rates.