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Revised Income Tax Slabs under the New Regime (FY 2025-26): Annual Income (₹) Tax Rate 0 – 1,200,000 = 0% 1,200,001 – 1,500,000 = 5% 1,500,001 – 2,000,000 =10% 2,000,001 – 2,500,000 =15% 2,500,001 – 3,000,000 =20% Above 3,000,000

so no taxes for people with Income under 12L!!?

If an individual's annual income is ₹12 lakh, their tax liability would be calculated as follows: ₹0 to ₹4,00,000: No tax ₹4,00,001 to ₹8,00,000: 5% of ₹4,00,000 = ₹20,000 ₹8,00,001 to ₹12,00,000: 10% of ₹4,00,000 = ₹40,000 Total tax liability = ₹20