Budget 2024 Tax Slab Change. The finance minister has increased the lowest slab in the new tax regime to ₹3 lakh, up from the previous threshold of ₹2.5 lakh. Finance minister nirmala sitharaman announced changes to the new income tax regime in her union budget 2024 speech.

You can check the latest income tax slabs in the table in this article. If the hike in income tax exemption of rs 5 lakh is implemented, it would indicate that individuals earning an annual income of up to rs 8.5 lakh might be.