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Budget 2025 expectations: Income tax relief buzz Speaking on the expected rationalisation of the income tax slab, Pankaj Mathpal, MD & CEO at Optima Money Managers, listed out the possible income tax slab for the new income tax regime, which may bri

Financial knowledge Indian Tax slabs Income tax slabs categorize taxpayers based on their annual income, determining the applicable tax rates. Here's a breakdown: 1. Nil Tax: Annual income up to ₹2.5 lakh for individuals below 60 years. 2. 5% Tax: I

💡 Did you know that only 5–6% of Indians actually pay income tax? Of the 7.4 crore returns filed in 2022–23, nearly 70% had zero tax liability. That leaves a thin slice of the population, mostly salaried middle class professionals who are bearing t

There is no income tax upto Rs. 12 lakhs of income. Great news. Now I just have to figure out how to earn an income of Rs. 12 Lakhs!

Who are actually middle class of India ? I am really confused to get the ideal answer of it. Because in village there is only a class that is caste... Most of the rich (as per village standard having acres of land, home, Cars, and non tax incom

Was it a Budget of expectations? The Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman introduced changes to the income tax regime, for salaried employees & those opting for the new tax regime. 1. Standard Deduction Increase: T

🚨 India's new tax rules come into effect from tomorrow. Upto 3 lakh - 0 3 lakh to 6 lakh - 5% 6 lakh to 9 lakh - 10% 9 lakh to 12 lakh - 15% 12 lakh to 15 lakh - 20% 15 lakh and above - 30%

If your income is 12L, You pay 0 for the first 4L. From 4L - 8L i.e. next 4L, you pay 5% = 20,000. From 8L - 12 i.e. another 4L, you pay 10% = 40,000. Total Tax Payable= 60,000. Standard Deduction -75,000. So NO TAX FOR INCOME UP TO 12L. Get it?