In another indication that the old tax regime will be eased out, finance minister Nirmala Sitharaman has tried to make the new tax regime more attractive for taxpayers. She has increased the standard deduction for salaried class by Rs 25,000 from Rs 50,000 to Rs 75,000 while keeping it at the same level of Rs 50,000 for the old regime. This means that tax liability across slabs will reduce by Rs 7,500 which, with 4% education cess, will become Rs 7,800.
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