New Delhi: Tagging it as the ‘highest priority’ budget for the poor, women, youth and farmers, the Union Finance Minister Nirmala Sitharaman, on Thursday, presented the interim Union Budget in the parliament, mentioning that there would be no change in the tax rates for direct or indirect taxes. The tax slabs remain the same for both new and old income tax regimes.
This was the interim budget presented and the full budget will be floated in July by the incoming government, whether a re-elected or new one.
Let’s have a look below about the tax slabs:
Also, there is no change in the tax slabs basis on categories such as individuals, senior citizens, and super senior citizens.
Meanwhile, in the old tax regime, the income tax exemption limit was up to ₹3 lakh for senior citizens aged above 60 years but less than 80 years, and up to ₹5 lakh for super senior citizens aged above 80 years.
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