Nataraj Malavade
February 1, 2025 at 07:29 AM
Tax Clarification: The 0 tax on income upto Rs 12 lakh is applicable only when your income is below 12 lakh. And adding standard deduction of 75k, it would be 12.75 lakh.
However if your income is more than 12.75 lakh, you will have to pay full tax from 4 lakh and above.
*0-4 lakh - 0 tax
4-8 lakh - 5% tax
8-12 lakh - 10% tax
12-16 lakh - 15% tax
16-20 lakh - 20% tax
20-24 lakh - 25%
Above 24 lakh - 30%*
Its a Big Relief for Lower Middle Class
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