Budget 2024: Finance Minister Nirmala Sitharaman has presented the budget for the financial year 2025. During this time he made many big announcements. Like the interim budget presented in 2019, no further relief has been given in the matter of personal income tax in this budget.
Budget 2024: While announcing the budget for financial year 2025, Finance Minister Nirmala Sitharaman did not make any changes in the income tax slabs. However, one special relief was given and that is that the government will withdraw some old tax demands. The Finance Minister said during the Budget Speech (Interim Budget 2024 Speech) that the government will withdraw tax demand of up to Rs 25,000 till financial year 2009-10 and tax demand of up to Rs 10,000 till 2014-15. This will benefit 1 crore taxpayers.
Like the interim budget presented in 2019, no further relief has been given in the matter of personal income tax in this budget. It was expected that perhaps some announcements would be made regarding income tax slabs and deductions. But nothing like this happened in this budget presented before the general elections. Even in the matter of import duty for goods coming from outside, there were no changes.
