Income Tax: There is hope for significant relief for the middle class as there may be a new arrangement and exemption in the income tax system.

Income Tax: The upcoming interim budget, scheduled to be presented on February 1 for the financial year 2024-25, may announce relief in income tax for the middle class. However, this relief could be applicable only for taxpayers adopting the new tax regime, as the government aims to incentivize the adoption of the new tax system.