Live Updates and discussion on Union Budget 2024-2025

Quick Summary
This discussion covers the live updates and key announcements from India's Union Budget 2024-2025. Finance Minister Nirmala Sitharaman presented a budget focusing on employment, skilling, MSMEs, and the middle class, with significant allocations for infrastructure, rural development, and agriculture. Key highlights include changes to the income tax regime, incentives for new employment, enhanced Mudra loan limits, and initiatives for affordable housing and renewable energy.

TDS rate on e-commerce operators reduced from 1% to 0.1%, says FM Nirmala Sitharaman

#Budget2024 : In new tax regime, tax rate structure to be revised

  • 0-3L Zero
  • 3-7L 5%
  • 7-10L 10%
  • 10-12L 15%
  • 12-15L 20%
  • 15 & above, 30%
Salaried employee in new tax regime will save up to Rs 17,500 in income tax
Changes In New Income Tax Regime Slab
 
0-3 lakh : Nil 
3-7 lakh: 5%
7-10 lakh: 10%
10-12 lakh: 15%
12-15 lakh: 20%
Above 15 lakh: 30%.#UnionBudget2024

Standard deduction has been increased from 50,000 to 75,000 to salaried individual.#UnionBudget2024

Standard Deduction for New Tax regime has been increased from 50000/- to 75000/-.

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