
No tax on up to ₹12 lakh income but why slabs?
On February 1, 2025, in her 74-minute Union Budget speech, Finance Minister Nirmala Sitharaman said there will be no tax on income up to ₹12,00,000 per annum, under the New Tax Regime (NTR). Factoring in Standard Deduction of ₹75,000, this limit would be …