The Budget 2025 is set to introduce significant changes to the income tax slabs, particularly benefiting the middle class. Currently, the new tax regime features slabs where income up to ₹3 lakh ...
Under the new slabs, taxpayers with Rs 12 lakh annual income will get a benefit of Rs 80,000 and those earning Rs 18 lakh will get a benefit of Rs 70,000, Ms Sitharaman told the parliament.
The Budget did not make any changes to the tax rates or slabs in the old tax regime, making it unattractive. Taxpayers opting for the new tax regime are not allowed to claim deductions or rebates ...
The most significant takeaway from this budget is that taxpayers earning up to Rs 12 lakh will effectively pay zero tax, but do the latest slabs mention tax on income below Rs 12 lakh? It is important ...
No, the rebate is only applicable for those earning up to Rs 12 lakh. If your taxable income is even a rupee more than Rs 12 lakh, you will have to pay taxes as per the slab rates under the new tax ...
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