"Income Tax" Slightly Over ₹12 Lakh Salary? Do You Pay Full Tax?
Under the new tax regime for the financial year 2025–2026, the Budget 2025 has proposed to make ordinary income up to Rs 12 lakh tax-free. This has become possible due to revised tax slabs and an enhanced rebate of Rs 60,000 under section 87A. However, there has been a great deal of confusion regarding tax on incomes slightly above Rs 12 lakh ever since the new tax system for FY 2025–2026 was…
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