00:00In the budget presented on February 1, 2025-26, Finance Minister Nirmala Sitharaman made a big announcement for the middle class and the salaried class.
00:11She announced that there is no need to pay a single rupee tax to those earning Rs 12 lakh annually.
00:18While those who work and earn a salary will not have to pay any tax on the annual income of Rs 12,75,000.
00:27But what will happen if a person earns more than Rs 12 lakh?
00:31If someone tells you that a person earning Rs 17 lakh annually does not have to pay an income tax, then you may find all this a joke.
00:40But I am telling you that this is absolutely true.
00:44For this, you just have to understand some calculations.
00:47The government has freed an income tax of up to Rs 12 lakh in the new tax regime.
00:52In this, like the old tax regime, you do not even get a leave under Section 80C.
00:58According to reports, despite all this, you can tax-free an income of up to Rs 17 lakh in the new tax regime.
01:05We will tell you about this in detail here.
01:07The corporate keeps a share of the convenience reimbursement in its employee's CTC i.e. cost to company.
01:14According to the tax expert firm Bhuta Shah and Company, you do not have to pay tax on the part of salary convenience reimbursement in the new tax regime.
01:23According to Bhuta, this expense should be spent on the arrival and departure of office work.
01:28Only then you can claim the convenience for reimbursement.
01:32According to the tax consulting firm Bhuta Shah and Company, the corporate gives transport allowance to some special employees.
01:39According to the consulting firm, the company gives a transport allowance of Rs 3200 per month, which is up to Rs 38,400 per year.
01:48Let me tell you that this allowance is only given to physically disabled employees by the company.
01:53Salary-based employees can take advantage of the amount of their telephone bill in tax.
01:58According to the director of Nangia Anderson LLP, Yogesh Kale, the phone and internet bill can be exempted in the new and old tax regime.
02:08He said that there is no limit to the telephone and internet bill in both the tax regimes.
02:14If the company gives you permission to lease a car, you can get tax on the car lease amount from your salary.
02:23In the car lease policy, a car is provided for personal and official use, in which you get a tax of Rs 1800 per month on a 1.6-litre engine car.
02:35In all these ways, you can get zero income tax in the new tax regime on an income of Rs 17 lakh.
02:42So, what is your opinion on this calculation? Give us your opinion in the comment box.
02:46And keep watching GoodReturns for such updates.
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