When Finance Minister Nirmala Sitharaman, while presenting the budget 2025, announced that those earning up to Rs 12 lakh will not have to pay tax in the new tax system, then a wave of happiness ran on the Internet and with this, the mimes of mimes on social media Floods occurred.
The new tax system offers zero income tax on earnings up to Rs 12 lakh (Rs 12.75 lakh with a standard deduction of Rs 75,000 for salaried taxpayers). This means that people who get salary up to Rs 12,75,000 will not have to pay tax.
People started expressing happiness with tax relief for Sitharaman’s mass middle class people. There was a flood of memes on social media.
The government has introduced new tax slabs whose purpose is to reduce tax to a great extent for middle class and is designed to promote more money, domestic consumption, savings and investment in their hands.
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