The government’s latest tax overhaul of income tax slabs in Budget 2025 is aimed at introducing a more streamlined tax system, providing relief to the harried middle-class salaried taxpayer. But does ...
The government has revamped the tax structure under the new regime, with Finance Minister Nirmala Sitharaman announcing that individuals earning up to Rs 12 lakh annually will pay no income tax.
The FM also informed that taxpayers with income up to Rs 12 lakh will not have to pay any tax. However, this rebate is only applicable on basic income, excluding special income such as capital gains.