Tax Rate On Social Security Benefits 2024 India

Tax Rate On Social Security Benefits 2024 India.  — finance minister nirmala sitharaman’s union budget 2024 introduced some major changes to the new income tax regime, aimed at boosting consumer spending. The government of india levies additional charges on individual taxpayers (irrespective of age) whose annual income exceeds inr 50 lakh.

 — assessments now, can be reopened beyond three years up to 5 years from end of year of assessment, only if, the escaped income is more than ₹ 50 lakh. National pension system benefits extended.