Income Tax Slab Changes Announced for FY 2023-24: What You Need to Know

Budget 2024 brings significant updates to income tax slabs and rates

Attention, taxpayers!

The government has unveiled the latest income tax slab rates for the financial year 2023-24 (assessment year 2024-25). These changes, announced as part of Budget 2024, aim to simplify the taxation system and provide relief to taxpayers across income brackets.

Under the new tax regime, the income tax slabs and rates have undergone significant revisions. The cess at 4% will continue to be levied on the payable income tax amount.

To stay informed about the latest income tax slab changes, including tax cuts and adjustments to standard tax deductions, be sure to check reliable sources such as government websites or reputable financial news outlets.

These updates to the income tax slabs and rates are part of the government's ongoing efforts to create a more equitable and efficient taxation system in India. Stay tuned for further details as they become available.