No Income Tax Up to Rs 12 lakh: Memes Galore on Social Media After Budget 2025
Nirmala Sitharaman announced that annual income of up to Rs 12 lakh will be exempt from I-T under the new income tax regime
Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 on Saturday and said the Budget will initiate reforms in six areas of taxation, urban development, mining, financial sector, power, and regulatory framework.
Presenting her eighth straight budget, Sitharaman announced that annual income of up to Rs 12 lakh will be exempt from I-T under the new income tax regime. For salaried taxpayers, this income threshold will be Rs 12.75 lakh after taking into account standard deduction.
"The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment," Sitharaman said in her Budget speech.
Netizens have reacted to the announcement through memes and many welcomed it on social media. Here are some posts:
