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How new tax slabs affect the salaried class? Finance minister Nirmala Sitharaman has announced 2 major tax amendments for the salaried class. 1. Income limit for rebate of income tax increased from Rs. 5 lakhs to Rs. 7 lakhs in the new regime. So, an individual need not pay income tax if his/her income is below Rs 7 lakhs under new tax regime only. What is new tax regime?
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