When will the revised budget changes for FY 2024-25 take effect?

A budget is a financial plan that outlines expected income and expenses over a specific period. 

Budget changes involve adjustments made to this plan to address new priorities or unforeseen circumstances. 

The revised budget changes for the FY 2024-25 include revised tax slabs, an increase in the Standard Deduction, and NPS contribution limits. These changes will automatically take effect from the August 2024 payroll.

However, the admins can select a different effective payroll month if needed. Learn how to defer the payroll month by clicking here. 

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