Indian gov't raises income tax exemption limit, standard deduction under PM Modi's 3rd term.

In the first 100 days of Prime Minister Narendra Modi's third term, the Indian government has implemented measures to ease the financial strain on the middle class. Key initiatives include raising the income tax exemption limit to ₹7 lakh and increasing the standard deduction to ₹75,000. A new Tax Code is under review to streamline tax regulations. Additionally, the Unified Pension Scheme for central employees will start in 2025, offering various pension options.

September 16, 2024
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