Income from 1 April 2025 to 12 lakh rupees will be tax free. What will happen if a person earns more than 12 lakh rupees? If someone tells you that a person earning 17 lakh rupees would not have to pay income tax, then you may be joking, but let us tell you that it is absolutely true. For this, you just have to understand some calculations.
The government has done income tax free of up to Rs 12 lakh in New Tax Resetam, in which you do not get exemption under Section 80C like Old Tax Regim. According to the report of the Economic Times, despite all this, you can make income up to Rs 17 lakh in New Tax Regime. We are telling you about this in detail here.
Corporates have a share in their employee's CTC (Cost to Company) of Convinance Remumbersment. According to the tax counseling firm Bhuta Shah & Co., in New Tax Regime, you will not have to pay tax on the part of the convenience remuneration of the salary. According to Bhuta, these expenses should be spent on coming and going from office work, only then you can claim for convenience remuneration.
According to Tax Consulting firm Bhuta Shah & Co., corporates give transport allowance to some special ampalai. According to the consulting firm, the company offers transport allowance up to Rs 3200 a month, which is up to Rs 38,400 annually. Let us tell you that only physically disabled Employees get this allowance from this allowance company.
Salary based Emlai can take advantage of the amount of your telephone bill in tax. According to Yogesh Kale, Executive Director of Tax Consulting firm Nangia Anderson LLP, the phone and internet bill can be forgiven in New and Old Tax Regime. At the same time, he told that no limit of telephone and internet bill has been fixed in both taxes.
If the company gives you a job to lease the car, then you can get tax exemption on the car lease amount from your salary. In the car lease policy, a car is provided for personal and official use, in which a 1.6 liter engine vehicle gets a tax discount of Rs 1800 a month. In all these methods, you can make zero income tax in New Tax Regime on income up to Rs 17 lakh.
