What changes in income tax laws are applicable from today?

The income tax changes effective today onwards include a standard deduction of ₹40,000 for salaried people instead of existing transport allowance and medical reimbursement.A 10% Long-Term Capital Gains tax will be levied on equity investments with gains of over ₹1 lakh. Further, a 10% tax will be imposed on income generated from dividends distributed by equity mutual funds.This type of changes will be effective from today onwards.

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