1) Standard
deduction under new regime has increased to Rs. 75,000.
2) Tax rate
of 5% applicable on income from Rs. 3 Lakhs to Rs. 7 Lakhs (earlier it used to
Rs. 6 Lakhs).
3) Long term
Capital gain (LTCG) on Equity shares & Equity oriented Mutual Funds shall
be taxed at 12.5% which used to be 10%.
4) Exemption
limit on Long term capital gain on equity shares & equity oriented mutual
funds shall be increased from Rs. 1,00,000 to Rs. 1,25,000.
5) LTCG
other than on shares shall be taxed at 12.5% which used to be 20%.
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