Income tax exemption over the years: From Rs 1 lakh in 2005 to Rs 12 lakh in 2025 – The Times of India
NEW DELHI: Finance Minister Nirmala Sitharaman on Saturday announced a major rejig in income tax slabs, proposing nil tax on income up to Rs 12 lakh per annum under the New Tax Regime. This marks a significant jump in tax exemption limits over the years, providing substantial relief to taxpayers. New income tax slabs (2025-26):…