Current Affairs · Union Budget
Consider the following statements regarding direct taxes in the Union Budget 2025-2026: 1. Under the revised tax regime, individuals with an annual income of up to ₹12 lakh will not be liable to pay personal income tax. 2. For salaried employees, the exemption threshold effectively increases to ₹12.75 lakh, factoring in a standard deduction of ₹55,000. 3. The government is expected to forgo approximately ₹1 lakh crore in direct tax revenue due to these changes. Which of the above statements is/are NOT correct?
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