Here are few tax updates
Rebate limit increased to ₹ 7 Lakhs
Rebate limit raised from Rs 5 lakh to 7 lakh
In new tax regime
New tax regime
basic exemption limit changed to 3 lakhs
New tax slabs
0-3l: nil
3-6: 5%
6-9: 10%
9-12: 15%
12-15: 20%
More: 30%
Highest surcharge rate reduced from 37% to 25%
Reducing highest income surcharge from 37% to 25% !!!
Highest tax rate down from 42.74% down to 39%
No change in Capital gain tax on stock market income
No change in 80C
Leave encashment upto 25 lakh will be exempt
Rebate limit increased to ₹ 7 Lakhs
Rebate limit raised from Rs 5 lakh to 7 lakh
In new tax regime
New tax regime
basic exemption limit changed to 3 lakhs
New tax slabs
0-3l: nil
3-6: 5%
6-9: 10%
9-12: 15%
12-15: 20%
More: 30%
Highest surcharge rate reduced from 37% to 25%
Reducing highest income surcharge from 37% to 25% !!!
Highest tax rate down from 42.74% down to 39%
No change in Capital gain tax on stock market income
No change in 80C
Leave encashment upto 25 lakh will be exempt