Budget 2024 Highlights On Income Tax. Finance minister nirmala sitharaman announced a thorough review of the income tax act of 1961 to benefit the middle class, expected to be completed in six months. Key expectations from the public include reductions in lpg and petrol prices, a revised income tax slab, and measures to control inflation.
Among the key highlights are the revised tax slabs, increased deductions and exemptions for salaried employees and pensioners, and the abolition of the angel tax, each designed to foster economic growth, simplify the tax system, and support innovation. Highlights include revised tax slabs, increased deductions, and simplified taxation.
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