Tax Rebate 2024 Trending Topics. Under the new income tax regime, also known as the concessional tax regime, for the financial year. In the interim budget 2024, finance minister nirmala sitharaman maintained the status quo on income tax slab rates, leaving them unchanged for the financial year.

Under the new tax regime, a resident individual (whose net income does not exceed rs 7 lakh) can avail rebate under section 87a. The finance minister has proposed some tweak in the tax slabs and tax rates for the new tax regime from the current financial year.