“Income up to ₹12 lakh = tax-free?” Not exactly. Tax is calculated as per slabs under the New Tax Regime, but the final tax becomes nil due to the rebate under Section 87A — it’s not automatic and it’s not a slab exemption. From FY 2025–26 onwards, resident individuals opting for the New Regime can get a rebate on income up to ₹12 lakh, subject to conditions. Remember, this rebate does not apply to income taxed at special rates like capital gains. Understand the difference between tax calculatio
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