Salary Increase Budget 2024. The budget features higher spending, job creation efforts, and tax relief for the middle class. In a bid to give a boost to salaried taxpayers, finance minister nirmala sitharaman on tuesday increased the standard deduction limit from 50,000 to 75,000.
Monetary limits for filing appeals related to direct taxes, excise and service. In 2023, 96% of organizations increased salaries (compared to 63% in 2020) as overall salary increase budgets and total compensation spend reached new heights.