In nil-tax bracket? Why a raise won't help you much

The recent Budget announcement provides that annual incomes up to Rs 12.75 lakh for salaried employees will not be taxed, considering standard deduction. However, increments to Rs 14 lakh or Rs 15.3 lakh could push individuals into higher tax slabs, significantly affecting their take-home pay despite the salary hike.

Feb 2, 2025 - 02:30

In nil-tax bracket? Why a raise won't help you much

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The recent Budget announcement provides that annual incomes up to Rs 12.75 lakh for salaried employees will not be taxed, considering standard deduction. However, increments to Rs 14 lakh or Rs 15.3 lakh could push individuals into higher tax slabs, significantly affecting their take-home pay despite the salary hike.