The Union Budget 2024 introduces significant changes to personal taxes, including increased exemption limits and higher standard deductions.
Mutual fund investments, particularly debt mutual funds, see revised tax structures, and details on Equity-Linked Savings Schemes (ELSS). Long-term capital gains tax thresholds are adjusted with the elimination of indexation benefits.
These measures aim to support the middle class, promote long-term investments, and simplify tax compliance.
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