HT
Less than a month away from the presentation of the interim Union Budget 2024, a senior finance ministry official has said that no rebate is expected on income tax for the upcoming financial year, reported Moneycontrol on Tuesday.
On January 9, a senior official from the Finance Ministry told Moneycontrol, “There is no such proposal,” when asked about any potential hike in the tax rebate in FY2024-2025.
Earlier, there were speculations that the Finance Ministry will include a proposal that the personal income tax rebate be increased from the current ₹7 lakh to ₹7.5 lakh during the interim budget. However, the report has dismissed these speculations.
