After Finance Minister Nirmala Sitharaman’s Budget 2024 speech, Income Tax became a trending topic online, sparking a wave of memes. Despite presenting her sixth consecutive Budget, Sitharaman announced no changes in income tax rates, which was expected for an Interim Budget. “I propose to retain the same tax rates for direct and indirect taxes, including import duties,” she stated during her speech on February 1.
The internet responded with a meme fest, with ‘Jethalal’ memes flooding social media platforms. Dilip Joshi, who played Jethalal in ‘Taarak Mehta Ka Ooltah Chashmah,’ became the face of online humor once again.
In the previous Budget (2023), Sitharaman had introduced changes to personal income tax for the middle class. The new tax regime, with a raised rebate limit from Rs 5 lakh to Rs 7 lakh, allowed taxpayers to opt for either the old or new regime.
The Budget 2024 session, starting on January 31 and lasting until February 9, precedes the upcoming Lok Sabha elections in May. The newly elected government will present the full Budget in July. The memes reflect the public sentiment regarding Sitharaman’s Income Tax announcement during this crucial period.
