What is the income tax exemption threshold proposed in Budget 2025
Details on the zero-tax bracket for incomes up to ₹12 lakh as per the latest budget announcement.
In Budget 2025, the proposed income tax exemption threshold includes a zero-tax bracket for incomes up to ₹12 lakh. Here are some details about this announcement:
- The new income tax exemption threshold of ₹12 lakh means individuals earning up to this amount will not have to pay any income tax.
- This move aims to provide relief to the middle-class taxpayers and promote higher disposable incomes.
- It will reduce the tax burden on individuals earning lower to middle-level incomes, allowing them to save more.
- This measure is expected to increase spending and boost economic growth by putting more money in the hands of consumers.
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3 months ago