MP Raghav Chadha has once again slammed the union government over income tax. Recently, the government had presented Budget 2025. In the budget, the government announced that individuals earning up to Rs.12 lac per year need not pay tax on income. All the citizens of India highly welcomed this decision but soon some people started criticizing the government. In this article, we will understand whether there is any hidden story behind it or not. First, listen to the speech of MP Raghav Chadha. 👇
New Tax Slabs and Rates
- Up to ₹4,00,000: 0% tax
- ₹4,00,000–₹8,00,000: 5% tax
- ₹8,00,000–₹12,00,000: 10% tax
- ₹12,00,000–₹16,00,000: 15% tax
- ₹16,00,000–₹20,00,000: 20% tax
- ₹20,00,000–₹24,00,000: 25% tax
- Above ₹24,00,000: 30% tax
The government has presented the above tax slabs in budget 2025. If the income of an individual exceeds Rs.12 lacs per year, then the individual needs to pay income tax as per slabs. It means that individuals earning till Rs.12 lac per year are actually getting rebate on income – the income is not completely exempted from tax.
People are saying that the government should have been a little more flexible. If a person earns Rs.15 lacs per year then he/she will have to pay income tax on Rs.15 lacs. People are saying that instead of this, tax should have been levied on income of Rs.3 lacs. This would have helped the citizens a lot. What you think of this, let us know in the comment section below.
