Income Tax in Budget 2024: Will standard deduction limit be hiked from Rs 50,000 to help salaried taxpayers?

It has been almost 5 years since standard deduction was revised; the previous instance was in 2019. There are many compelling reasons to raise the limit of the standard deduction from Rs 50,000. Standard deduction, needs to be periodically adjusted to account for inflation, says Akhil Chandna, Partner, Grant Thornton Bharat. Though 2024 will see only an interim budget, middle-class taxpayers are eagerly hoping Finance Minister Nirmala Sitharaman will roll out some tax sops. Will the Budget 2024 raise standard deduction from Rs 50,000?

from Personal Finance News-Wealth-Economic Times https://ift.tt/iLhtqn8
via IFTTT

Comments

Post a Comment

Popular posts from this blog

How to Establish a Good Relationship and Where to Use It

Image
How and where to Create a Good Relationship Do you want your partner to feel loved and connected to you? These pointers can learn how to develop and maintaining a healthy, pleasant, and rewarding romantic relationship. Creating positive relationship Every love affair has its ups and downs, and they all require effort, dedication, and the desire to adapt and evolve alongside your partner. There are actions you can take to build a healthy relationship, whether you're just starting out or have been together for years. Even if you've had a lot of unsuccessful relationships in the past or struggled to rekindle the romance in your present relationship, there are ways to stay connected, achieve contentment, and enjoy long-term happiness. What makes a relationship healthy? Every relationship is different, and people have met for a variety of reasons. Sharing a common goal for what you want your relationship to be and where you want it to go is part of what forms a healthy relationship....
Read more

12 New Fund Offers open for subscription

Image
12 new fund offers (NFOs) from 11 fund houses are open for subscription at this moment, including Aditya Birla Sun Life Business Cycle Fund, Axis Nifty 50 Index Fund and Edelweiss Large & Midcap Index Fund. from Personal Finance News-Wealth-Economic Times https://ift.tt/3FplU88 via IFTTT
Read more