Why is the tax-free income Rs. 12.50 lakh and not Rs. 12.75 lakh under the new tax regime for salaried taxpayers?

Standard deduction in the new tax regime: Due to an error in Budget 2025, a salaried employee may not be able to avail of the standard deduction of Rs 75,000 from their salary. Instead, he may get a standard deduction of Rs 50,000 even in the new tax regime. Read on to know why.

from Tax-Wealth-Economic Times https://ift.tt/mxX0R1K