New Tax Regime Explained: Income Up To ₹12 Lakh Effectively Tax-Free From April | India Today

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New Tax Regime Explained: Income Up To ₹12 Lakh Effectively Tax-Free From April | India Today

The new tax regime offers a rebate under Section 87A, increasing from ₹25,000 to ₹60,000. This makes income up to ₹12 lakh effectively tax-free. The changes apply only to those who opt for the new tax regime and will come into effect from April 2025. The government aims to balance fiscal deficit targets while providing tax relief to the middle class.

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