Budget 2024: Tax rate structure proposed to be revised in new tax regime

By Priyanka Deshpande

CNBC-TV18.com

Published July 23, 2024

Finance Minister Nirmala Sitharaman, in her seventh consecutive budget speech, proposed to revise the tax rate structure in the new tax regime. Take a look at the proposed tax rate structure:

Proposed Tax Slab: ₹0-3 Lakh - Nil

Current Tax Slab: ₹0-3 Lakh - Nil

Proposed Tax Slab: ₹3-7 Lakh - 5%

Current Tax Slab: ₹3-6 Lakh - 5%

Proposed Tax Slab: ₹7-10 Lakh - 10%

Current Tax Slab: ₹6-9 Lakh - 10%

Proposed Tax Slab: ₹10-12 Lakh - 15%

Current Tax Slab: ₹9-12 Lakh - 15%

Proposed Tax Slab: ₹12-15 Lakh: 20%

Current Tax Slab: ₹12-15 Lakh - 20%

Proposed Tax Slab: Above ₹15 Lakh - 30%

Current Tax Slab: Above ₹15 Lakh - 30%