In Rs 8-12 lakh slab, another Rs 4 lakh will be taxed at 10% (Rs 40,000). The remaining Rs 3 lakh falls in the Rs 12-16 lakh slab, attracting a rate of 15%, which calculates to Rs 45,000.

Income Tax Calculator for 12 Lakh Income: Under the new regime, the tax liability for individuals earning Rs 12 lakh or Rs 12.75 lakh (for salaried persons) is Rs 60,000, which is completely waived ...

FM Sitharaman increased the exemption threshold from Rs 7 lakh to Rs 12 lakh in the new income tax regime. Pixabay/Representational Image Union Finance Minister Nirmala Sitharaman has delivered a ...

His new income would be ₹ 13.12 lakh, an increase of ₹ 62,500, and his tax liability would be ₹ 37,500. As you can see, Mr. A’s tax outgo will not completely offset the increase in his income.

In 2014, before the Modi government first presented its budget, taxpayers faced a 10 percent tax rate on incomes above Rs 2 lakh, a 20 percent rate above Rs 5 lakh, and the highest 30 percent ...

Finance Minister Nirmala Sitharaman gave taxpayers a big relief in Union Budget 2025-26 by making income up to ₹12 lakh tax-free from ₹7 lakh earlier. Factoring in the standard deduction of ...

Finance Minister Nirmala Sitharaman announced in her Budget speech that individuals earning up to Rs 12 lakh per annum will not have to pay any tax after adjusting the Standard Deduction of Rs ...

The announcement of Nil tax for those with taxable income of up to Rs 12 lakh has brought cheer to all who fall in that category. However, many who are marginally above that ceiling will end up taking ...

Finance Minister Nirmala Sitharaman has proposed to increase the threshold for collecting Tax Collected at Source (TCS) on Liberalised Remittance Scheme (LRS) transactions from Rs 7 lakh to Rs 10 lakh ...

The Finance Minister announcing Rs 12 lakh as tax-free income got the attention of most taxpayers in the Union Budget 2025 presentation on February 1. However, there were several other key tax ...

In India, there are 69 bikes under 1 lakhs that are featured on HT Auto, with the top picks being the TVS Raider, Bajaj Pulsar 125, Honda SP 125, Suzuki Access 125, TVS NTORQ 125. These models have an ...