Zero IT up to Rs 12 lakh visionary step: Majhi

Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi on Saturday said “zero income tax” up to Rs 12 lakh per annum, as proposed in the Union Budget 2025-26, is a visionary step which will empower citizens, strengthen economy and pave the way for brighter financial opportunities for all.

The Budget gave a relief to the middle class with regard to tax incidence and rejigged slabs. Taking to X, Majhi said, “A heartfelt thank you to Hon’ble PM Shri @narendramodi Ji and Hon’ble Finance Minister @nsitharaman ji for this transformative initiative of Zero Income Tax till Rs 12 Lakh under the New Tax Regime…”

Nirmala 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.