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 wonāt waste time on old tax regime for two reasons:
-> 70%+ income taxpayers had already switched from it by the end of FY24
-> With whatās announced today, itās anyway dead. One would have to be a fool to stick with it
So, what about the News T
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 More
3 replies2 likes
Sameer Patel
StealthĀ ā¢Ā 9m
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 ā¹2.5 lakh for individuals below 60 years.
2. 5% Tax: I
Just invest 10 sec in below š 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 ..
What's a scam that's so normalized that we don't even realize it's a scam anymore?
Me- Taxes. Once you tax the income, why is there a tax again in the name of GST?
Whatever the shop / company earns they can give it as income tax.
This approach n
See More
0 replies9 likes
Tarun Suthar
Ā ā¢Ā
The Institute of Chartered Accountants of IndiaĀ ā¢Ā 28d
You still have to pay taxes if your income is below 12Lakhs.š
Letās talk about a crucial detail in the recent Indian Union Budget that many people are overlooking. If youāre already aware, great! But if not, this is essential to knowāotherwise, you