Union Budget 2024: Nirmala Sitharaman revises new tax regime slabs, raises standard deduction by Rs 25K

Ahead of Finance Minister Nirmala Sitharaman's presentation of Union Budget 2024, there are high expectations around tax relief amid hopes of the government putting more money in the hands of taxpayers.

One of the speculations gaining traction ahead of the Budget are the reforms in long-term capital gains on equities, debt and other asset classes. The F&O segment may also see changes in taxation.

There will also be likely announcements regarding the old and new tax regime. Reports suggest that we can expect the government to woo taxpayers with a tax regime that "gives a lot of benefits, for education and to promote savings, with tax on interest also likely to be exempt."

Stay tuned for updates.