5 Big Tax Changes in 2024 That Matter When Filing ITR in 2025

1) Revised Income Tax Slabs

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2) Higher Standard Deduction Limit

[{"selector":"#anim-c9170f82-986b-460e-832d-bd62ea7f228a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3f354517-57cd-44cf-91fc-9ed838acb997","keyframes":{"transform":["translate3d(0px, 395.26961%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Salaried taxpayers: ₹75,000 (up from ₹50,000). Family pensioners: ₹25,000 (up from ₹15,000). Salaried taxpayers: ₹75,000 (up from ₹50,000). Family pensioners: ₹25,000 (up from ₹15,000).

3) Revised Tax Rates for LTCG and STCG

[{"selector":"#anim-9f0d84aa-c2c0-41bd-9d2a-829feb18d821","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a58d9e13-bd5b-4987-8de4-683735202652","keyframes":{"transform":["translate3d(0px, 444.77453%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] TCG on equities: 20% (up from 15%). LTCG on assets: 12.5%. Investors, plan wisely—indexation benefits are now partially withdrawn for property gains. TCG on equities: 20% (up from 15%). LTCG on assets: 12.5%. Investors, plan wisely—indexation benefits are now partially withdrawn for property gains.

4) TDS on Property Sales

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5) TCS on Luxury Goods

[{"selector":"#anim-97bc2530-ceaf-4880-b7a7-32edc82ca441","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f59436c0-a219-49f6-a763-f55ee916d686","keyframes":{"transform":["translate3d(0px, 446.75477%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Purchasing luxury items above ₹10 lakhs ? A 10% TCS will apply starting January 2025. This affects cars, jewelry, and other premium buys. Purchasing luxury items above ₹10 lakhs ? A 10% TCS will apply starting January 2025. This affects cars, jewelry, and other premium buys. Start tax planning today!

Don’t wait for the last minute to save your taxes!

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