Budget 2024: The Modi government can give this big gift to the taxpayer in the budget this time
Finance Minister Nirmala Sitharaman can present the first full budget of Modi Government 3.0 on the 22nd or 23rd of this month. Taxpayers have the highest expectations from this budget and they feel that there can be some big announcements in this budget, which can benefit them. In such a situation, the Finance Minister can announce many concessions in this budget to make the new tax regime more attractive.
Tax exemption may increase.
According to media reports, the Modi government can increase the basic tax exemption limit under the new tax regime from the current Rs 3 lakh to Rs 5 lakh in the first budget of its third term.
A standard deduction can be increased.
According to media reports, Finance Minister Nirmala Sitharaman can increase the standard deduction under the new tax regime in Budget 2024. The Narendra Modi government at the Centre may take a big step to increase the limit of standard deduction under the new tax regime to make it more attractive.
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