Under the new tax regime, Finance Minister Nirmala Sitharaman announced no income tax for individuals earning up to Rs 12 lakh annually. Salaried employees can earn up to Rs 12.75 lakh tax-free, including a Rs 75,000 standard deduction. Revised slabs offer significant savings, up to Rs 1.10 lakh tax benefit for higher earners. The move aims to boost middle-class consumption, savings, and investment.
