Union Budget 2024: Memes flood over social media as new income tax regime announced

Finance Minister Nirmala Sitharaman introduced the Union Budget 2024, which was the first comprehensive Union Budget of the new NDA coalition government.?It was expected to focus on improvements to the income tax structure and enhancing the ease of doing business in India.?

Also read:?Union Budget 2024: Finance Minister Nirmala Sitharaman to present her 7th budget

This was also Sitharaman's seventh presentation of a Union Budget, making her the first Finance Minister to do so consecutively. Morarji Desai previously held the record for presenting six consecutive budgets.

FM revised income tax slabs in the new budget?

Finance Minister Nirmala Sitharaman altered income tax slabs under the New Tax Regime on Tuesday, as part of the Union Budget 2024, in order to bring relief to salaried individuals and taxpayers.?

Also read:?Gold Income Tax Rules In India: How Much Gold Can Married And Single Women Keep At Home?

After decades of having a single income tax regime, FM Sitharaman established a parallel system—the New Tax Regime—in the Union Budget 2020-21 in an attempt to simplify and streamline tax regulations while expanding the taxpayer base.

How did people on the internet react??

The new tax regime has social media talking. Many people on the internet are sharing memes after the new tax regime has been announced. Have a look at some of the most hilarious and relatable ones here.

?What do you think about this? Tell us in the comments.

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