What does no income tax up to ₹12 lakh really mean? Decoding differences between tax rebate, deduction & exemption

2 months ago 9
In Budget 2025, Finance Minister Nirmala Sitharaman raised the nil income tax slab to ₹12 lakh for salaried individuals. This entails a tax rebate, not a full exemption, effectively reducing tax liability to zero for those within this income range.
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