Finance Minister Nirmala Sitharaman has announced changes to the income tax slabs in the new regime. As per the changes, there is no tax on income up to Rs 12 lakh. This rejig is expected to boost disposable income,

The Finance (No.2) Act, 2024 had the following slabs in the new tax regime for person, being an individual or Hindu undivided family or association of persons [other than a cooperative society], or body of individuals, whether incorporated or not, or an artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2:

As India prepares for the budget speech of Hon'ble Finance Minister Nirmala Sitharaman focus will be on three important points. Firstly it will be on the possible changes on the income tax slabs if any.