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Medial • 11m
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: The standard deduction for salaried individuals has been increased from ₹50,000 to ₹75,000. Additionally, the deduction on family pensions has been raised from ₹15,000 to ₹25,000 . 2. Revised Income Tax Slabs (New Regime): • Income up to ₹3 lakh: Nil • Income from ₹3 lakh to ₹7 lakh: 5% • Income from ₹7 lakh to ₹10 lakh: 10% • Income from ₹10 lakh to ₹12 lakh: 15% • Income from ₹12 lakh to ₹15 lakh: 20% • Income above ₹15 lakh: 30% 3. Capital Gains Tax: • Short-term capital gains on certain assets have been increased to 20% from 15%. • Long-term capital gains on financial and non-financial assets are now taxed at 12.5%, up from 10%. • The exemption limit on capital gains has been raised to 1.25L. Did it reach expectations?
Founder And CEO Of F... • 5m
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
See MoreWork and keep learni... • 1y
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
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The Institute of Chartered Accountants of India • 5m
You still have to pay taxes if your income is below 12Lakhs.💀 Let’s talk about a crucial detail in the recent Indian Union Budget that many people are overlooking. If you’re already aware, great! But if not, this is essential to know—otherwise, you
See MoreHey I am on Medial • 5m
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?
Customer success ent... • 5m
Just invest 10 sec in below 👇 calculator to calculate your tax as per new regime 2025 Tax Calculator comparison as per budget 2025! https://tax.pythontrader.in/ Calculate ur tax as per new proposed slab rates .. just enter your income in this ..
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