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Major Changes in Budget for Salaried Individuals 🌟

Major Changes in Budget for Salaried Individuals 🌟

09 Aug, 2024

By CA Vidhu Duggal

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

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