Understanding New Tax Proposals

The video tutorial announces a new tax regime with no income tax payable up to 12 lakh rupees. It details the revised tax rate structures and standard deductions, aiming to benefit salaried taxpayers and boost household consumption. The new tax rates range from 0% for incomes up to 4 lakh rupees to 30% for incomes above 24 lakh rupees. Tax rebates are provided to ensure no tax is payable by certain income groups. Examples illustrate the tax benefits at various income levels, and the overall impact on revenue is discussed.

What is the new income threshold for which no income tax is payable?

• 8 lakh rupees

• 12 lakh rupees

• 15 lakh rupees

• 10 lakh rupees

What is the standard deduction for salaried taxpayers under the new regime?

• 75,000 rupees

• 80,000 rupees

• 50,000 rupees

• 60,000 rupees

How much tax is payable for an income between 8 to 12 lakh rupees?

• 5%

• 10%

• 15%

• 20%

What is the tax rate for income above 24 lakh rupees?

• 40%

• 35%

• 30%

• 25%

Which income slab has a tax rate of 15%?

• 20 to 24 lakh rupees

• 12 to 16 lakh rupees

• 8 to 12 lakh rupees

• 16 to 20 lakh rupees

What is the tax benefit for a taxpayer with an income of 12 lakh rupees under the new regime?

• 70,000 rupees

• 80,000 rupees

• 1 lakh rupees

• 90,000 rupees

How much tax benefit does a person with an income of 18 lakh rupees receive?

• 70,000 rupees

• 60,000 rupees

• 50,000 rupees

• 80,000 rupees

What percentage of tax payable is saved by a person with an income of 25 lakh rupees?

• 35%

• 30%

• 25%

• 20%

What is the total revenue forgone in direct taxes due to the new tax proposals?

• 1 lakh crore

• 2 lakh crore

• 1.5 lakh crore

• 2.5 lakh crore

How much revenue is forgone in indirect taxes as a result of the new proposals?

• 3,600 crore

• 3,000 crore

• 2,600 crore

• 2,000 crore