The government of India has some very good news to share with the citizens as the new taxation slap has been announced by the Finance Minister Nirmala Sitharaman today.
The finance minister confirmed that there will be no more taxation on those who are earning less than ₹12,00,000 per annum.
Zero Income Tax till ₹12 Lakh Income under New Tax Regime
👉 Slabs and rates being changed across the board to benefit all tax-payers
👉 New structure to substantially reduce taxes of middle class and leave more money in their hands, boosting household consumption, savings and investment
👉 ‘Nil tax’ slab up to ₹12.00 lakh (₹12.75 lakh for salaried tax payers with standard deduction of ₹75,000)
The statement from the finance ministry, read a short while back. This is a significant positive reinforcement for the middle class community across the country.