नवीनतम
No tax for income up to Rs 12 lakh: FM
NEW DELHI [Maha Media]: Finance Minister Nirmala Sitharaman announced in her budget speech that taxpayers with salaries up to Rs 12 lakh would not be required to pay tax in the new tax regime.
The Union Minister also announced changes in the tax slabs.
The new tax regime offers zero income tax for earnings up to Rs 12 lakh (Rs 12.75 lakh for salaried taxpayers with standard deduction of Rs 75,000).
The government has introduced new tax slabs that aim to substantially reduce taxes for the middle class and are designed to leave more money in their hands, boosting household consumption, savings, and investment.
