What does no income tax up to ₹12 lakh really mean? Decoding differences between tax rebate, deduction & exemption

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What is rebate under Section 87A? How does it differ from income tax deductions, exemptions?

Budget 2025 increases rebate, no tax liability up to ₹12 lakh; answers on rebate, exemptions, deductions in income tax.

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What does no income tax up to ₹12 lakh really mean? Decoding differences between tax rebate, deduction & exemption

In Budget 2025, Finance Minister Nirmala Sitharaman raised the nil income tax slab to ₹12 lakh for salaried individuals. This entails a tax rebate, not a full exemption, effectively reducing tax liability to zero for those within this income range.

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Replying to the debate on the Motion of Thanks on the President's address in the Lok Sabha, Prime Minister Modi said that in the last 10 years, we have worked to increase the savings of the middle class by reducing income tax. Before 2014, some bombs were thrown and bullets were fired that destroyed the lives of the countrymen. We healed the wounds of the people. Earlier, tax exemption was given on income up to Rs 2 lakh and now income up to Rs …