Income tax calculation on Rs 12.75 lakh for salaried as per new tax regime: Here's how you pay zero tax
Under the new regime, the tax liability for individuals earning Rs 12 lakh or Rs 12.75 lakh (for salaried persons) is Rs 60,000, which is completely waived due to the rebate. Hence, the resulting tax is nil.
From Rs 2 lakh to 12 lakh: Transformation of India’s personal income tax structure under Modi govt since 2014
In 2014, taxpayers were exempt from tax on income up to Rs 2 lakh. Budget 2025 has significantly expanded this relief to Rs 12 lakh under new regime. The progress over the years reflects adjustments aimed at reducing tax burden on lower and middle-income earners.
Save Rs 80,000 to Rs 1.4 lakh under new income tax slabs from April 2025
The Budget proposes revised slabs and rates, which Sitharaman said would reduce the tax burden on the middle class, allowing for greater disposable income
‘Indira Govt Would’ve Taken Rs 10 Lakh Tax On Rs 12 Lakh Income’: PM Modi Hails Budget
As the campaigning for the Delhi Assembly polls enters its last leg, Prime Minister Narendra Modi on Sunday said the Union Budget has brought cheer to every average household even as he called it the "most middle class friendly budget in India's history".
Union Budget 2025: PM Modi announces tax-free income up to Rs 12 Lakh, major relief for middle class
In Union Budget 2025, Prime Minister Narendra Modi unveiled significant tax reforms aimed at benefiting the middle class. He states, “In this budget, income up to Rs 12 lakh per annum has been made tax-free.
Takeaways from India's budget that slashes income tax on the salaried middle class to spur growth
Indian Prime Minister Narendra Modi’s government presented an annual budget to Parliament on Saturday that focused on wooing ...
India’s tax laws set for a revamp: What is the new Income Tax Bill? How will it affect you?
Finance Minister Nirmala Sitharaman is set to introduce a new Income Tax Bill aimed at simplifying the six-decade-old tax ...
India's tax cut plans will spur consumption, top execs say
India's plans to cut personal income tax rates will put more disposable income in the hands of the people and eventually ...
Who Gains, Who Loses as India Doles Out $12 Billion in Tax Sops
India cut taxes for the country’s middle class, putting about $12 billion more in their pockets as the Narendra Modi-led ...
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Income Tax Slabs 2025 LIVE Updates: India Inc welcomes the new income tax bill, relaxation in TCS, TDS regulations
Finance Minister Nirmala Sitharaman has announced that under the new income tax regime, nil tax slab has been raised from ₹7 ...
INDIA BUDGET India cuts income tax in a bid to boost consumption
India cut personal income tax rates for some individuals in a bid to boost consumption across Asia's third-largest economy, ...
India Delivers $12 Billion in Tax Cuts to Spur Economic Growth
India’s finance minister gave middle class consumers 1 trillion rupees ($11.5 billion) in tax relief in her budget Saturday, ...
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India reconsiders crypto stance as global adoption pressures mount
India, which has been very critical of and opposed to crypto in the past, is now reevaluating its stance on the assets. The ...
INDIA BUDGET-India's Tax Cut Plans Will Boost Consumption, Top Execs Say
This comes after the government said that people earning up to 1.28 million rupees ($14,800) per year will not have to pay ...