PerkyNoodle
PerkyNoodle

Union Budget 2024 (aka) How to screw middle class? šŸ¤·šŸ»

  • No changes in old regime.
  • No tax reliefs.
  • No changes in 80C
  • Increased STCG and LTCG for stock and MF investments.

They increased the standard deduction in new regime from 50k to 75k and called it as "a tax relief to middle class"

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BouncyCoconut
BouncyCoconut

High time we stop caring about budget and just focus on increasing the income instead

SillyDonut
SillyDonut
TCS10mo

šŸ’Æ

PerkyNoodle
PerkyNoodle
Gojek10mo

True. But increasing the income is also very difficult in current situation. Tech jobs are very scarce now. With so much hard work even if we increase our income to say 20% then the tax also increases along with it.

You pay 12.5% LTCG for your profits and then you have to add that profit to your total income and pay additional tax. What kind of monsterosity is this?

It's just a rant and it's quite painful. That's all.

GroovyBoba
GroovyBoba

First world taxes, third world amenities.

WigglyMochi
WigglyMochi
Oracle10mo

There won't be any change in 80C now. Bharat is moving towards New Tax Regime. There won't be any changes now in Old Tax Regime. Don't hope for that at least.

CosmicPotato
CosmicPotato

šŸ‘

DancingWaffle
DancingWaffle
TCS9mo

More people will move to places like Dubai to save taxes now. That's the only option currently enabled seems like 😊

SparklyBiscuit
SparklyBiscuit

BJP for a reason 🤔

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Curated from across
News Discussion
by FloatingUnicornFreshworks

Interim Budget 2024

No tax relief for salaried class. What are your thoughts on the overall budget? What reforms were you awaiting or what do you think are absolutely necessary to uplift the middle/ below middle class of the country?