the Qs
the Qs

I heard salaried taxpayers can save up to ₹17,500 in taxes, but I’m confused about the new slab rates.Can you explain the new tax regime and how I can save on taxes?

Budget
budget
With the new tax regime for FY 2024-25, here’s how the updated slab rates work: Income up to ₹3 lakh is tax-free, income between ₹3 lakh and ₹7 lakh is taxed at 5%, income between ₹7 lakh and ₹10 lakh at 10%, income between ₹10 lakh and ₹12 lakh at 15%, income between ₹12 lakh and ₹15 lakh at 20%, and income above ₹15 lakh at 30%.You can save up to ₹17,500 in taxes due to the increase in the standard deduction from ₹50,000 to ₹75,000. This higher deduction lowers your taxable income, which means you’ll pay less tax and increase your savings.
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the Qs

I heard salaried taxpayers can save up to ₹17,500 in taxes, but I’m confused about the new slab rates.Can you explain the new tax regime and how I can save on taxes?

With the new tax regime for FY 2024-25, here’s how the updated slab rates work: Income up to ₹3 lakh is tax-free, income between ₹3 lakh and ₹7 lakh is taxed at 5%, income between ₹7 lakh and ₹10 lakh at 10%, income between ₹10 lakh and ₹12 lakh at 15%, income between ₹12 lakh and ₹15 lakh at 20%, and income above ₹15 lakh at 30%.You can save up to ₹17,500 in taxes due to the increase in the standard deduction from ₹50,000 to ₹75,000. This higher deduction lowers your taxable income, which means you’ll pay less tax and increase your savings.
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Get access to Personal Finance Insights you will actually want to read!

Join 12,000+ readers who receive practical and actionable insights decoding Personal Finance right to their mail box to learn all about money!
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Recent Posts

Expense Ratio

An explainer on how a small charge called the expense ratio can quietly eat into your mutual fund returns—especially over the long run.

How the rich save taxes?

A peek into how the rich save taxes—featuring smart strategies explained with examples to help you keep more of what you earn.

Direct or Regular Mutual fund—which one should you pick?

Mutual funds sound simple, right? But wait—there’s a sneaky choice hiding in there! Let’s unravel this mystery and set you up for the win!

ETF

An explainer on Exchange Traded Funds (ETFs), covering their types, how they work, and an example of an investment journey.

Where does the richest people live?

A snapshot of where the most High Net-Worth Individuals (HNIs) reside globally, ranked by the total number of millionaires, centi-millionaires, and billionaires.

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Tax Saving Strategy, Personal finance course, Finance with Dime, Financial freedom guide, Wealth-building strategies, Investing tutorials, Financial planning tools, Interactive finance classes, Finance community app, Master personal finance, Step-by-step guide to financial freedom,Tax-saving strategies', Mutual fund SIP guide, Income tax calculator,Best investment plans for 2024, NPS tax benefits, HRA tax exemption guide,Equity vs. debt mutual funds, How to file ITR online, Tax-free income sources, Old vs. new tax regime comparison, Top-performing SIPs in India, Retirement planning tips, Financial planning for millennials, Budgeting tips for professionals, Government schemes for senior citizens
Tax Saving Strategy, Personal finance course, Finance with Dime, Financial freedom guide, Wealth-building strategies, Investing tutorials, Financial planning tools, Interactive finance classes, Finance community app, Master personal finance, Step-by-step guide to financial freedom,Tax-saving strategies', Mutual fund SIP guide, Income tax calculator,Best investment plans for 2024, NPS tax benefits, HRA tax exemption guide,Equity vs. debt mutual funds, How to file ITR online, Tax-free income sources, Old vs. new tax regime comparison, Top-performing SIPs in India, Retirement planning tips, Financial planning for millennials, Budgeting tips for professionals, Government schemes for senior citizens

Why join Dime's Tax Strategy Masterclass?

Comprehensive

Practical

Case Studies

This isn’t a normal masterclass. You will get a comprehensive hands-on experience of various “Tax Strategies” with our proven case-study based approach.

Get access to in-house built powerful Old vs. New Tax regime calculator, tax handouts, and more.
Thousands have benefited you can too!
Enroll Now

2000+ People have already saved Taxes

Tax Saving Strategy, Personal finance course, Finance with Dime, Financial freedom guide, Wealth-building strategies, Investing tutorials, Financial planning tools, Interactive finance classes, Finance community app, Master personal finance, Step-by-step guide to financial freedom,Tax-saving strategies', Mutual fund SIP guide, Income tax calculator,Best investment plans for 2024, NPS tax benefits, HRA tax exemption guide,Equity vs. debt mutual funds, How to file ITR online, Tax-free income sources, Old vs. new tax regime comparison, Top-performing SIPs in India, Retirement planning tips, Financial planning for millennials, Budgeting tips for professionals, Government schemes for senior citizens

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