Under new tax slabs for new regime, there's no tax on income up to ₹12 lakh, and no tax on income up to ₹12.75 lakh for salaried people. This is possible as the limit of total income for nil tax payment (rebate) has been increased from ₹7 lakh to ₹12 lakh. A ₹75,000 standard deduction is also available to taxpayers.