What are the key changes introduced in the latest budget related to direct taxes?

Key Changes Introduced in the Latest Budget Related to Direct Taxes

During the latest budget, several key changes were introduced in relation to direct taxes. These changes include:

• Revision of tax slabs and rates for individual taxpayers
• Introduction of an optional new tax regime with lower tax rates
• Increase in the turnover threshold for tax audit for businesses
• Amendment in tax laws to promote affordable housing
• Enhancement of tax benefits for startups and small businesses

These changes aim to simplify the tax structure, promote compliance, and boost economic growth.

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