Budget 2024 Income Tax Highlights. These changes will take effect on or after 6 april 2025 for income tax and capital gains tax and from 1 april 2025 for corporation tax and for corporation tax on chargeable. Overall savings of inr 17,500 expected and a standard deduction to be increased to inr 75,000;

From income tax to employment benefits, let’s take a look at the 14 key highlights of the 2024 budget: Highlights include revised tax slabs, increased deductions, and simplified taxation.