income brackets

Tax calculations: Taxable income vs gross income vs net income – know how to calculate your actual tax outgo

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Tax calculations: Taxable income vs gross income vs net income – know how to calculate your actual tax outgo

Tax calculation: In Budget 2025, the Finance Minister announced that no income tax is payable up to an annual income of Rs 12 lakh, providing a tax rebate for individuals earning up to this amount. The tax slabs for different income brackets have been updated, with those earning between Rs 4-7 lakh now required to pay … Read more

Budget 2025: How can FM Nirmala Sitharaman soothe middle-class taxpayers this time?

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Budget 2025: How can FM Nirmala Sitharaman soothe middle-class taxpayers this time?

Budget expectations: On February 1, 2025, Union Budget will be presented by Finance Minister Nirmala Sitharaman at the Lok Sabha. Income taxpayers are expecting significant tax breaks. The taxpayers may expect some big changes as PM Narendra Modi and President Draupadi Murmu hinted at some major shakeup.  Ahead of the Budget 2025, President Draupadi Murmu suggested … Read more