New Budget 2024 India. For income between rs 7 lakh and rs 10 lakh, a 10% tax applies. This budget is the first during prime minister narendra modi's third term.
Income between rs 3 lakh and rs 7 lakh is taxed at 5%. Some major changes were also made on the taxation front, while loans of up to rs 10 lakh for higher education in domestic institutions were announced.