Direct Taxation Reforms 1. Enhanced Income Tax Relief:
No personal income tax payable for income up to ₹12 lakh under the new regime (₹12.75 lakh for salaried individuals due to a standard deduction of ₹75,000).
Aims to benefit the middle class by increasing disposable income, fostering savings, and encouraging investment.2. Revised Tax Slab Structure:
In the new tax regime, the revised tax rate structure will stand as follows:
1. Enhanced Income Tax Relief:
No personal income tax payable for income up to ₹12 lakh under the new regime (₹12.75 lakh for salaried individuals due to a standard deduction of ₹75,000).
Aims to benefit the middle class by increasing disposable income, fostering savings, and encouraging investment.2. Revised Tax Slab Structure:
In the new tax regime, the revised tax rate structure will stand as follows: