Didn't receive 87A rebate for FY 23-24 even after revised ruling. What is wrong with our FM. She is trying to loot us in every possible way. Anyone else, who didn't receive rebte for stcg/ltcg?
if your income is more than the basic exemption limit i.e. 3 lakh in new regime and it includes the STCG/LTCG income, then you won't get the 87A rebate.
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Didn't receive 87A rebate for FY 23-24 even after revised ruling. What is wrong with our FM. She is trying to loot us in every possible way. Anyone else, who didn't receive rebte for stcg/ltcg?
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
Why some people are saying that "this is the power of meme"??
context: budget announcement 2025 by FM (income tax exemption limit)
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You still have to pay taxes if your income is below 12Lakhs.๐
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Revised Income Tax Slabs under the New Regime (FY 2025-26):
Annual Income (โน) Tax Rate
0 โ 1,200,000 = 0%
1,200,001 โ 1,500,000 = 5%
1,500,001 โ 2,000,000 =10%
2,000,001 โ 2,500,000 =15%
2,500,001 โ 3,000,000 =20%
Above 3,000,000
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 โน2.5 lakh for individuals below 60 years.
2. 5% Tax: I
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?
