It’s not every day that you hear about income tax breaks that hit people right in the pocket. But this time, Sitharaman shocked us all with the big one: No income tax up to an income of Rs 12 lakh. Yes, you read that right! For the new tax regime, taxpayers with earnings up to Rs 12 lakh won’t have to pay any tax, and for those with salaries up to Rs 12.75 lakh, it’s tax-free as well, thanks to the standard deduction of Rs 75,000.
You can already see how this has sparked the meme party, with social media buzzing with comparisons of Sitharaman’s budget moves to hitting sixes in cricket. Some say she’s knocked it out of the park!
Memes? Oh yes!
“Guess Nirmala Sitharaman finally took the trolling seriously and gave us a public-friendly budget, so the memes on her should stop now,” some users said, and they couldn’t stop laughing.
The Numbers and What They Mean
Here’s a breakdown of the new tax slabs under the revised tax regime:
- Income up to Rs 4 lakh: No tax
- Rs 4 lakh – Rs 8 lakh: 5% tax
- Rs 8 lakh – Rs 12 lakh: 10% tax
- Rs 12 lakh – Rs 16 lakh: 15% tax
- Rs 16 lakh – Rs 20 lakh: 20% tax
- Rs 20 lakh – Rs 24 lakh: 25% tax
- Above Rs 24 lakh: 30% tax
For the salaried class, this is a major relief, as those with an income up to Rs 12.75 lakh will pay no tax, making the middle class feel like they’ve finally hit the jackpot in this budget season.
So, while the government’s efforts are all about helping the middle class, the internet’s way of celebrating it is all about memes. We can definitely expect more hilarious takes in the days to come.
