Income Tax: Finance Minister's big announcement for taxpayers before July 31,

Newsdesk:

There is big news for those who pay income tax.  The Finance Ministry has given big good news to the middle class ahead of July 31.  The last date for filing ITRs is July 31. Before that, the government has given you another good news.  Modi Government is giving various tax benefits to the middle class.  People earning Rs 7.27 lakh per annum will not have to pay any tax.  All sections of the country are getting tax breaks from the government.
People had many questions about what would happen to people earning more than Rs 7 lakh.  This decision was later considered by the Government and we found out what level of tax you pay for every additional Rs.  For example, for Rs. 7.27 lakh, you no longer pay any tax.  Break even comes at just Rs 27,000.  Then you start paying taxes.
 "You currently have a standard deduction of up to Rs 50,000," Finance Minister Nirmala Sitharaman said.  While, earlier people were complaining that people will not get the benefit of deduction under the new tax regime, but now it is available to you.  Talking about the achievements of the government, he said the total budget for Micro, Small and Medium Enterprises (MSMEs) has increased to Rs 22,138 crore for 2023-24 from Rs 3,185 crore in 2013-14.