For those who are confused - No income upto 12 lakhs means rebate will be increased. People having income of more than ₹12L will have to pay taxes as per slab even if it is 12,00,001 as per new slab of 4-8L at 5% and at 10% on 8-12L. If you have a normal income of 12 lakhs (means no STCG or LTCG) you will not be liable to pay any tax but if you have capital gain it will be liable to tax as per normal slab. PS: But still no tax upto 12 lakhs including rebate is a very big relief. #budgetsession2025