Budget 2025: “No Income Tax on income up to Rs 12 lakh”, says Finance Minister Nirmala Sitharaman
Автор: midday india
Загружено: 2025-01-31
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Budget 2025: “No Income Tax on income up to Rs 12 lakh”, says Finance Minister Nirmala Sitharaman
In a big relief to middle-class taxpayers, Finance Minister Nirmala Sitharaman has announced that No income tax will need to be paid on income up to Rs 12 lakh for salaried people. In addition, the Finance Minister announced plans to introduce a new income tax bill which she mentioned will be clearer, simpler and more direct. Here is how the new tax regime will now look like:
Zero to Rs 4,00,000- No Tax
Rs 4,00,000 to Rs 8,00,000---5%
Rs 8,00,0001 to Rs 12,00,000---10%
Rs 12,00,001 to 16 lakh rupees---15%
Rs 16,00,001 to 20 lakh rupees---20%
Rs 20,00,001 to 24 lakh rupees-- 25%
Above 24 lakhs ---30%
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