Will Budget 2024 spur consumption?
With demand dipping consistently for the past few quarters the economy needed a booster dose.
With demand dipping consistently for the past few quarters the economy needed a booster dose.
Increased tax slabs, increase in standard deduction, and increased deductions from pensions will bring relief expected to over 4 cr salaried individuals and pensioners.
The government clarifies the new tax regime is the "default tax regime"
When compared with the old tax regime, income tax rates under the new proposed tax regime are undoubtedly higher, says Aarti Raote of Deloitte India.
FM proposes to increase personal I-T rebate limit to ₹7 lakh under new tax regime; to cut total slabs to 5 and increase exemption limit to ₹3 lakh
Deloitte India has recommended an additional ₹50,000 'work from home' allowance for taxpayers in the upcoming budget.
A growing view ahead of the budget is that the exemption limit of ₹1.5 lakh, which has not been changed since 2014, now needs to be revised.