Budget and You: Earning just over Rs 12 lakh? You're in luck

Feeling disheartened that while those with taxable income up to Rs 12 lakh (after the Rs 75,000 standard deduction) pay zero tax, you have to cough up a hefty amount just because you earn a little more? Don't worry. Marginal relief is here to ensure you don't end up paying high taxes just because your income slightly exceeds Rs 12 lakh. What's happening at Rs 12 lakh? The Union Budget 2025 has increased the Section 87A rebate to Rs 60,000, making taxable income up to Rs 12 lakh tax-free under the new tax