Budget 2024: Standard deduction under new tax regime increased to ₹75,000

In the new tax regime, the tax rate structure is proposed to be revised as follows: – 0 to 3 lakh rupees: Nil – 3 to 7 lakh rupees: 5 percent – 7 to 10 lakh rupees: 10 percent – 10 to 12 lakh rupees: 15 percent – 12 to 15 lakh rupees: 20 percent – Above 15 lakh rupees: 30 percent As a result of these changes, a salaried employee in the new tax regime stands to save up to 17,500 rupees in income tax : FM