The new tax regime eliminates income tax for individuals earning up to ₹12 lakh, providing relief to the middle class.
As per the new tax regime, the income tax rebate limit has been increased from ₹5 lakhs to ₹7 lakhs.
From now, crypto investors have to pay tax on their income.
The finance minister said that this year’s Budget centred three ideas.
The first income tax slab revision was done by John Mathai in 1949-50.