Budget announces new income tax slabs. Major relief for salaried class

Srinagar: Budget 2024-25 has introduced new income tax slabs, providing a major relief for the salaried class.

The revised tax structure under the new regime is as below:

₹0- ₹3 lakh – Nil;

₹3-7 lakh – 5% ;

₹7-10 lakh – 10% ;

₹10-12 lakh – 15%;

12-15 lakh – 20%; and

Above ₹15 lakh – 30%