Pay 0% income tax if your income is below this threshold

Under certain tax brackets, taxpayers can rejoice as they're exempted from paying income tax. FM Nirmala Sitharaman's recent budget introduced significant tax reforms, including making income up to Rs 7 lakh annually tax-free under the new regime. Moreover, salaried individuals and pensioners now receive a standard deduction of Rs 50,000, regardless of the tax regime chosen