Zero Tax till 7 LACS! Explained
The above calculation is applicable for an income of Rs. 7.50 lakhs as the finance minister has announced the benefit of the standard deduction for the new tax regime.
So if your income is Rs. 7.5 lakhs, you will get a rebate, but if your income is more than Rs. 7.5 lakhs, then no rebate will be given.
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