Finance minister Nirmala Sitharaman has announced income tax exemption for individuals earning up to Rs 12 lakh annually under the new regime, providing a significant tax relief for the middle class. This reform is expected to boost household consumption and savings, though projected to reduce direct tax revenue by Rs 1 lakh crore.
Finance minister Nirmala Sitharaman has announced income tax exemption for individuals earning up to Rs 12 lakh annually under the new regime, providing a significant tax relief for the middle class. This reform is expected to boost household consumption and savings, though projected to reduce direct tax revenue by Rs 1 lakh crore. Finance minister Nirmala Sitharaman has announced income tax exemption for individuals earning up to Rs 12 lakh annually under the new regime, providing a significant tax relief for the middle class. This reform is expected to boost household consumption and savings, though projected to reduce direct tax revenue by Rs 1 lakh crore. Read More
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