No income tax up to Rs 12 lakh: FM

Sat, 01 February 2025

12:27

Finance Minister Nirmala Sitharaman has announced that no income tax will be levied on income of up Rs 12 lakh under the new tax regime.

The 'nil tax' slab up to Rs 12.00 lakh (Rs 12.75 lakh for salaried tax payers with standard deduction of 75,000).

Slabs and rates being changed across the board to benefit all tax-payers.

New structure to substantially reduce taxes of middle class and leave more money in their hands, boosting household consumption, savings and investment.

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