{"id":197,"date":"2025-02-07T06:36:55","date_gmt":"2025-02-07T06:36:55","guid":{"rendered":"https:\/\/mytaxadvisorindia.in\/?p=197"},"modified":"2025-02-07T06:36:55","modified_gmt":"2025-02-07T06:36:55","slug":"zero-income-tax-how-much-can-you-keep-without-paying-taxes","status":"publish","type":"post","link":"https:\/\/www.mytaxadvisorindia.com\/blog\/zero-income-tax-how-much-can-you-keep-without-paying-taxes\/","title":{"rendered":"Zero Income Tax: How Much Can You Keep Without Paying Taxes?"},"content":{"rendered":"\n<p>The Finance Minister has announced significant changes to the income tax slabs for the Assessment Year (AY) 2026-27, aiming to provide relief to taxpayers and stimulate economic growth. Here&#8217;s a detailed overview of the new tax structure:<\/p>\n\n\n\n<p>New Tax Regime Slabs for Individual and HUF for AY 2026-27:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td>Annual Income Range<\/td><td>Tax Rate<\/td><\/tr><tr><td>Up to \u20b94,00,000<\/td><td>Nil<\/td><\/tr><tr><td>\u20b94,00,001 to \u20b98,00,000<\/td><td>5%<\/td><\/tr><tr><td>\u20b98,00,001 to \u20b912,00,000<\/td><td>10%<\/td><\/tr><tr><td>\u20b912,00,001 to \u20b916,00,000<\/td><td>15%<\/td><\/tr><tr><td>\u20b916,00,001 to \u20b920,00,000<\/td><td>20%<\/td><\/tr><tr><td>\u20b920,00,001 to \u20b924,00,000<\/td><td>25%<\/td><\/tr><tr><td>Above \u20b924,00,000<\/td><td>30%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>How much can you keep after claiming exemptions and deductions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Standard Deduction u\/s 16 (ia) upto Rs. 75,000 on salary income only.<\/li>\n\n\n\n<li>Employer\u2019s NPS contribution up to 14% of salary (Basic + DA) u\/s 80CCD (2).<\/li>\n<\/ul>\n\n\n\n<p>Basically, an employee can take the benefits of Rs. 75,000 <strong>plus <\/strong>14% of (Basic + DA) as a deduction and exemption addition to the New Tax Slab benefits for PY 2025-26 (AY 2026-27).<\/p>\n\n\n\n<p>For Example: Say Employee is earning salary of Rs. 13,50,000 and (Basic salary is Rs. 5,40,000 included in Rs. 13,50,000).<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Particulars<\/strong><\/td><td><strong>Taxable Income<\/strong><\/td><\/tr><tr><td>Total Income<\/td><td>13,50,000.00<\/td><\/tr><tr><td>Standard Deduction<\/td><td>(75,000.00)<\/td><\/tr><tr><td>Gross Income<\/td><td>12,75,000.00<\/td><\/tr><tr><td>Deduction U\/s 80CCD (14% of 5,40,000)<\/td><td>(75,600.00)<\/td><\/tr><tr><td>Taxable Income<\/td><td>\u00a011,99,400.00<\/td><\/tr><tr><td>Tax Payable<\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nil<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Section 80CCD is a powerful tax-saving tool for salaried employees, especially those in high-income brackets or nearby slab. By ensuring that employers contribute to NPS, employees can maximize tax benefits while securing their financial future.<\/p>\n\n\n\n<p>Conclusion: Always consult with a qualified tax professional to tailor these strategies to your personal financial situation and to stay compliant with the tax laws in India.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Minister has announced significant changes to the income tax slabs for the Assessment Year (AY) 2026-27, aiming to provide relief to taxpayers and stimulate economic growth. Here&#8217;s a detailed overview of the new tax structure: New Tax Regime Slabs for Individual and HUF for AY 2026-27: Annual Income Range Tax Rate Up to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":191,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,6],"tags":[76,86,87,122,131,132],"class_list":["post-197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax","category-latest-news","tag-income-tax-planning","tag-no-income-tax","tag-no-tax-on-income","tag-tax-planning","tag-zero-income-tax","tag-zero-tax"],"_links":{"self":[{"href":"https:\/\/www.mytaxadvisorindia.com\/blog\/wp-json\/wp\/v2\/posts\/197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mytaxadvisorindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mytaxadvisorindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mytaxadvisorindia.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mytaxadvisorindia.com\/blog\/wp-json\/wp\/v2\/comments?post=197"}],"version-history":[{"count":0,"href":"https:\/\/www.mytaxadvisorindia.com\/blog\/wp-json\/wp\/v2\/posts\/197\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mytaxadvisorindia.com\/blog\/wp-json\/wp\/v2\/media\/191"}],"wp:attachment":[{"href":"https:\/\/www.mytaxadvisorindia.com\/blog\/wp-json\/wp\/v2\/media?parent=197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mytaxadvisorindia.com\/blog\/wp-json\/wp\/v2\/categories?post=197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mytaxadvisorindia.com\/blog\/wp-json\/wp\/v2\/tags?post=197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}