Clarification regarding new Budget Amendment
This query is : Resolved
16 February 2025
Dear Sir/Madam
Plz guide
In latest Budget announced in Feb 2025 “individuals earning up to ₹12 lakh annually would not have to pay income tax”
Plz clarify whether individual having Business Income of 10 lakh and Interest income of 5 lakhs and opting New Regime liable to pay tax as per the Budget amendment
Plz guide
In latest Budget announced in Feb 2025 “individuals earning up to ₹12 lakh annually would not have to pay income tax”
Plz clarify whether individual having Business Income of 10 lakh and Interest income of 5 lakhs and opting New Regime liable to pay tax as per the Budget amendment
CA R SEETHARAMAN
(Expert)
17 February 2025
Yes, tax payable as total income exceeds 12 lacs.
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