NO INCOME TAX ON ANNUAL INCOME UPTO Rs. 12 LAKH UNDER NEW TAX REGIME https://www.taxtmi.com/news?id=32378 The Budget 2025-26 restructures the new tax regime so that annual income up to Rs. 12 lakh is exempt from income tax, with salaried taxpayers obtaining an effective exempt limit of Rs. 12.75 lakh due to a Rs. 75,000 standard deduction; slab rate reductions plus a rebate eliminate tax liability at and below that threshold. en-us Sat, 01 Feb 2025 14:36:40 +0530 Sat, 01 Feb 2025 14:36:39 +0530 TaxTMI RSS Generator NO INCOME TAX ON ANNUAL INCOME UPTO Rs. 12 LAKH UNDER NEW TAX REGIME https://www.taxtmi.com/news?id=32378 The Budget 2025-26 restructures the new tax regime so that annual income up to Rs. 12 lakh is exempt from income tax, with salaried taxpayers obtaining an effective exempt limit of Rs. 12.75 lakh due to a Rs. 75,000 standard deduction; slab rate reductions plus a rebate eliminate tax liability at and below that threshold. News - Sat, 01 Feb 2025 14:36:40 +0530 https://www.taxtmi.com/news?id=32378