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Income Tax Return filing deadline extended : The CBDT has decided to extend the due date of filing of ITRs, which are due for filing by 31st July 2025, to 15th September 2025.
👆 Looks like the FM & team arrived at the ball park figure of Rs 12 lakh based on the statistical data of ITRs filed during the Assessment Year 2023-2024. 91% of Income Tax Returns filed, were within the range of 0 to Rs 12.05 lakh (average gross total income).
https://www.relakhs.com/budget-2025-key-highlights-important-tax-proposals
90% of Tax payers will have Zero Tax Liability? As per the Budget 2025, there will be no tax on income up to Rs 12 lakh. So, how many individual tax payers are going to benefit from this new proposal? Read more ..👇👇
👆👆👆👆Budget 2025 : As per the new proposal, income up to Rs 12 lakh has no tax liability. What if you have say Rs 7 lakh as salary income and Rs 5 lakh as Short Term Capital Gains arising out of your stock trading? Does this Rs 5 lakh is also eligible for tax rebate? What is the difference between Normal Income and Special Rate Income?
https://www.relakhs.com/90-of-tax-payers-will-now-have-zero-tax-liability-budget-2025/
https://www.relakhs.com/income-tax-slab-rates-for-fy-2025-26-ay-2026-27-budget-2025-key-highlights
https://www.relakhs.com/what-is-the-difference-between-normal-income-and-special-rate-income/