New Tax Regime Income Limit Explained
The question asks for the new upper limit of income for which no personal income tax is payable under the new tax regime, according to the Union Budget 2025-26.
Key Tax Information
- New Tax Regime Threshold: The Union Budget 2025-26 has set a new upper limit for taxable income.
- No Tax Payable Limit: Individuals earning up to 12 lakh per annum under the new tax regime will not have to pay any personal income tax.
- Previous Limit: This represents an increase from previous thresholds.
Therefore, the new upper limit for no personal income tax payable under the new tax regime is 12 lakh.
Important Questions from Budget
- The Union Budget 2021–22 has recommended a voluntary scrapping policy for vehicles based on fitness tests after a period of ______ years for personal vehicles.
______ expenditure and ______ receipts are shown by the government budget.
The Social Justice and Empowerment Ministry of India, which caters to the welfare of the backward classes and those with disabilities, saw _______ increase in the allocation in the Union Budget 2022 - 23.
The first Economic Survey of India was presented in ______.
The Union Budget 2018 allocated ₹ 5,750 crore to ______
