My Friend - I am so excited that income up to 12 Lakh is exempt from income tax. I can finally take a trip to Europe. 🌎
Me - Bro, you earn four lakhs. Shouldn't you be worried about raising your income first? 🤔
My Friend - I couldn't even reach t
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Anonymous 3
Hey I am on Medial • 2m
Instead of worrying about reaching the top 1%, just focus on moving up step by step. If you’re making ₹4L, target ₹8L, then ₹12L, then ₹20L. Slow progress >>> empty flex.
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Mahendra Lochhab
Content creator • 2m
New Tax slab:
0-4L-0%
4-8L-5%
8-12L-10%
12-16L-15%
16-20L-20%
20-24L-25%
24L+30%
People with income up to 12L will pay 0% income tax.
2 replies4 likes
Sanjay Srivastav. Footwear Designer
Hey I am on Medial • 2m
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?
I won’t waste time on old tax regime for two reasons:
-> 70%+ income taxpayers had already switched from it by the end of FY24
-> With what’s announced today, it’s anyway dead. One would have to be a fool to stick with it
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