On Sunday, prime minister Narendra Modi attacked the congress by citing former Prime Ministers jawaharlal nehru and indira gandhi to argue that his government has reduced taxes and given the middle class more relief, while their governments levied high taxes on people's incomes.
 
At a rally in Delhi's rk Puram, prime minister Modi remarked, "Let me show you a picture. It will improve your comprehension and make communicating with others simpler. According to this budget, if you made ₹12 lakh during Nehru Ji's time, the government would deduct a quarter of your income as taxes. You would be startled to learn that taxes would account for about ₹10 lakh of the ₹12 lakhs, if this had been Indira Ji's time. I am describing this today since that was the situation at the time.
 
According to Modi, his government's most recent budget guarantees that the same profits would pay no taxes, but under congress law, a ₹12 lakh income would have required ₹2.6 lakh in taxes.
 
"If you made ₹12 lakh, you had to pay ₹2,60,000 in taxes even ten or twelve years ago, when the congress administration was in power. An individual making ₹12 lakh a year would no longer be required to pay any taxes at all, according to the bjp government's budget from yesterday, PM Modi said.
 
On Saturday, Nirmala Sitharaman, the finance minister, declared in the Union Budget 2025 that individuals making up to ₹12 lakh annually will not have to pay income tax.
 
"This is a step to help the middle class," she remarked. In effect, the tax-free income cap will be ₹12.75 lakh after a basic deduction of ₹75,000.
 
"I am happy to announce that there will be no income tax on income up to ₹12 lakh [i.e. ₹1 lakh per month, excluding special rate income like capital gains] under the new regime," she stated.
 

 
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SIBY JEYYA

03/02/2025 09:13 AM