Old vs New Tax Regime: Key ITR deductions may end for Rs 12 lakh earners from next year - BusinessToday
Old vs New Tax Regime: Key ITR deductions may end for Rs 12 lak…
6 months ago
businesstoday.in
Earn over Rs 12.75 lakh? You can still pay zero tax under new regime
Earn over Rs 12.75 lakh? You can still pay zero tax under new regime
Feb 3, 2025
India TodayIndia Today Business Desk
💸 No Tax on Income Up to Rs. 12 Lakh! But here's the real question: Is it enough to just focus on what you earn? 🤔 How you manage your money matters more than your income. Budgeting and managing leftovers can make or break your financial future. 📉 The middle-class mindset often leads to consumption-based thinking. When people see money, they focus on spending instead of saving or investing. This is what the government wants—to increase consumption and drive GDP growth. 🌱 🔄 There are two min
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FacebookFindas
Will Rs 12 lakh income qualify for zero tax even with capital gains?
Will Rs 12 lakh income qualify for zero tax even with capital gains?
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India TodayKoustav Das
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₹1 ki kamaai pe 1 lakh 32 thousand extra tax 🤯 Imagine you have an income of 50 lakhs, and your tax liability is 13 lakhs 12 thousand. Now, if you earn just one more rupee, your tax shoots up to 14 lakhs 43 thousand! That’s an extra tax of 1 lakh 32 thousand on just one rupee of additional income. Unfair, right? This is where the surcharge comes into play. As your income crosses 50 lakhs, a 10% surcharge is applied. But fear not, there’s a solution within the income tax system - Marginal Relief
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