Income tax relief: Rs 12.1 lakh vs Rs 12.5 lakh vs Rs 12.75 lakh – how marginal income tax will be calculated?
Income tax calculations: The Union Budget 2025 raised the income tax exemption threshold to Rs 12 lakh, effectively making incomes up to this amount tax-free. For salaried individuals, this limit increases to Rs 12.75 lakh after factoring in the standard deduction of Rs 75,000 under the new tax regime for FY 2025-26. This has become possible … Read more