Income Tax after Union Budget: Finance Minister Nirmala Sitharaman has announced not to impose tax on annual income of up to 12 lakhs. In this way, it has been decided that after standard deduction, there will be no tax on annual income of up to 12 lakh 75 thousand for salary person. But keep in mind that this is only for new tax regime. Therefore, the most discussed New Tax Resetam is being discussed right now, because it is clearly clear that there will be no tax on how much income will be levied. Therefore, most of the taxpayers are confused after the budget to adopt which tax regime for the year 2025-26.
Old tax revision is correct on more than 24 lakh income
Normal calculations seems to be right now. Old Tax Reseam has no meaning, but Deloit has explained the difference between the two tax regime by calculating. According to this, old tax regime is still correct for people with more than 24 lakh income. If you claim deduction on annual income of more than eight lakh rupees, then the old tax regime can reduce your tax liberality more than the new tax regime. According to experts, after making major changes in the new tax regime by Finance Minister Nirmala Sitharaman, the Old Tax Regim has lost the brightness of the examples structure in your, yet Old Tax Resetim is very beneficial in certain circumstances due to more income.
New tax regime has won here
After the announcement of the Finance Minister in the budget, the Tax Rebet Limit in New Tax Resetam has been increased from seven lakh to 12 lakhs. Similarly, the basic examples limit has been increased from three lakh rupees to four lakh rupees. This has made the new tax regime more attractive overall.
Also read:
Union Budget 2025: Finance Minister Nirmala Sitharaman filled the state’s vault, distributed 14 lakh 22 thousand crore rupees
(Tagstotranslate) Union Budget 2025 (T) Provision in New Tax Regime (T) Better tax regime
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