In an effort to boost consumer spending, Finance Minister Nirmala Sitharaman announced significant tax reforms in Budget 2024-25. Under the new tax regime, individuals earning up to Rs 12 lakh annually will pay no income tax, with salaried taxpayers benefiting from a raised limit of Rs 12.75 lakh due to a standard deduction of Rs 75,000. This move has been welcomed by e-commerce platforms, anticipating increased consumer expenditure. Watch Aadit Palicha, Co-Founder & CEO of Zepto, discuss these changes.
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