With the increase in exemption slab to Rs 12 lakh, those who earn up to Rs 1 lakh per month will not have to pay any Income Tax. According to the government, nearly 1 crore taxpayers who fall in this ...
The FM also informed that taxpayers with income up to Rs 12 lakh will not have to pay any tax. However, this rebate is only applicable on basic income, excluding special income such as capital gains.