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Nil income tax for salaried people earning up to Rs 12.75 lakh annually

New Delhi: The Finance Minister Nirmala Sitharaman has announced a hike in tax rebate under Section 87A for resident individuals having net taxable income up to Rs 12 lakh will pay zero tax For Financial Year 2025-26 (Assessment year 2026-27) under the new tax regime. The Current resident individual taxpayer allowed zero tax on income up to Rs 7 lakh in the new tax regime under the Section 87A of the Income Tax Act, 1961. Salaried people having standard deduction benefit of Rs 75,000 under the new tax regime will pay zero tax if gross taxable income does not exceed

Nil tax for individuals earning up to Rs 12 lakh annually under new regime: FM

New Delhi, Feb 1 (PTI) Individuals earning up to Rs 12 lakh annually will not have to pay any income tax under the new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class by raising exemption limit and rejigging slabs. For salaried employees, this nil tax limit will be Rs 12.75 lakh per annum, after taking into account a standard deduction of Rs 75,000. Higher exemptions and rejigs have been effected under the new income tax regime. “I am now happy to announce that there will be no income tax payable up to income of

Himachal does not require 153 IAS officers for a population of 70 lakh, says CM

Shimla, Jan 31 (PTI) The Himachal government has decided against inducting new IAS and IPS officers into the state cadre, as the state does not require 153 IAS officers for a population of approximately 70 lakh, said Chief Minister Sukhvinder Singh Sukhu on Friday. Furthermore, the government aims to reduce the number of Indian Forest Service (IFS) officers, he added in a statement issued here. Talking to the media on the sidelines of a programme in Solan, he mentioned that the state lacks a single international-standard airport and that the entire cost of constructing such an airport should be borne

Gold continues record breaking rally, jumps Rs 1,100 to all-time high Rs 84,900 per 10g

New Delhi, Jan 31 (PTI) Gold prices hit a fresh record high of Rs 84,900 per 10 grams in the national capital on Friday, driven by robust domestic demand and strong global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity continued its ascent for the third straight session, jumping by Rs 1,100 to hit a new peak of Rs 84,900 per 10 grams. The yellow metal has rallied by Rs 5,510 or 7 per cent since January 1 when the metal traded at Rs 79,390 per 10 grams in the local market.

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