Budget 2024 Income Tax Rebate. As announced in budget 2024, a personal tax rebate will be granted to all tax residents for year of assessment 2024. The higher standard deduction of rs 75,000 means anybody with an annual income of rs 7.75 lakh will not have to pay any tax.
As announced in budget 2024, a personal tax rebate will be granted to all tax residents for year of assessment 2024. Due to the tax rebate under section 87a individuals need not pay income tax if their taxable income does not exceed the.