Modi 3.0 -- "More money in pocket" ....Best gift for Middle class and Neo Middle class :::: No income tax payable up to Rs 12 lakh income .... the bonanza season is here

 No income tax payable up to Rs 12 lakh income: 

Budget bonanza for middle class
Modi 3.0 -- Best gift for Middle class and Neo Middle class ::::  

.... the bonanza season is here 

Maharashtra Chief Minister Devendra Fadnavis lauded FM Sitharaman for presenting what he described as an “excellent Budget”. 

"Finance Minister Nirmala Sitharaman has presented an excellent Budget—truly a dream budget for the middle class. I congratulate her on this. 

The transformation in income tax exemption, with no tax up to Rs 12 lakh, will be a milestone in India's economy," the Maharashtra CM remarked.

(Next Destination is Mega Success) 

More new openings on cards .... #Viksit Bharat being the theme 

"Resident individual with total income up to Rs 7,00,000 do not pay any tax due to rebate under the new tax regime. It is proposed to increase the rebate for the resident individual under the new regime so that they do not pay tax if their total income is up to Rs 12,00,000. 

Marginal relief as provided earlier under the new tax regime is also applicable for income marginally higher than Rs 12,00,000," said the budget document.

Manmeet Kaur, Partner at Karanjawala & Co, said, "The Government aims at Democracy, demography and demand recognising the middle class. Minimum tax slab raised to Rs 12 lakhs from Rs 7 lakhs in new regime + Rs 75000 standard deduction. Aims to boost both consumption and savings/investments."

The tax slabs and rates are as follows:

• 
  
• 0-4 lakh rupees: Nil
• 
  
• 4-8 lakh rupees: 5%
• 
  
• 8-12 lakh rupees: 10%
• 
  
• 12-16 lakh rupees: 15%
• 
  
• 16-20 lakh rupees: 20%
• 
  
• 20-24 lakh rupees: 25%
• 
  
• Above 24 lakh rupees: 30%

Middle class hero with massive tax relief, Bihar big beneficiary

Finance Minister Nirmala Sitharaman announced big reforms focused on income tax relief for the middle class in addition to major reforms in agriculture, with Bihar in focus.

Key initiatives include transformative reforms in taxation, financial services, power, and urban development, alongside major support for agriculture, MSMEs, and manufacturing. 

The enhanced push for research, AI, and infrastructure, coupled with tax benefits for the middle class, signals a growth-oriented and future-ready economic roadmap.  

Opposition MPs briefly staged walk out in Lok Sabha during FM Sitharaman's Budget speech, demanding a government statement on the January 29 Kumbh stampede, which claimed 30 lives.

The protest lasted around five minutes before the MPs returned to their seats.

Mamata Banerjee-led Trinamool Congress MPs did not participate in the walkout.

After the speech, opposition members sought a discussion on the incident.