New Tax Laws 2024 Jan 20. Explore the latest income tax changes with ministry of finance notification 14/2024. New tax regime is the default tax regime, however, tax payers can choose the tax regime (old or new) that they think is beneficial to them.

From hiking the standard deduction limit in the new tax regime to tweaking tax slabs to simplifying capital gains tax — budget 2024 has changed a host of tax. This year tax proposals in finance bill,2024 focused on encouraging tax payers to opt for new tax regime by giving more benefits in terms of higher threshold,.