2024 Tax Slab India. The government has increased the standard deduction limit to rs 75,000, allowing the salaried class to save up to rs 17,500 in taxes under the. The new tax income tax slabs in the new tax regime will be effective from april 1,2024 once the budget is passed by parliament and receives presidential assent.

In india, income tax is calculated using income tax slabs and rates for the applicable financial year (fy) and assessment year (ay). From income tax slab changes to a hike in standard deduction and several changes in the capital gains tax regime, here is a look at the key takeaways from the union budget.