<h1>New Income Tax Regime: No Tax for Incomes Up to Rs 12 Lakh, Relief for Middle Class with Adjusted Slabs</h1> Individuals earning up to Rs 12 lakh annually will not pay income tax under the new regime announced by the Finance Minister, offering relief to the middle class by raising exemption limits and adjusting tax slabs. For salaried employees, the nil tax threshold is Rs 12.75 lakh, considering a standard deduction of Rs 75,000. The new structure aims to reduce taxes for the middle class, enhancing household consumption, savings, and investment. Tax rates for incomes above Rs 12 lakh vary, with benefits ranging from Rs 70,000 to Rs 1.10 lakh depending on income levels.