Social media platforms were flooded with funny memes and jokes as netizens rejoiced after Union Finance Minister Nirmala Sitharaman announced no income tax for income up to Rs 12 lakhs under the new tax regime on Saturday, February 1. This means taxpayers with salaries or income up to Rs 12 lakh would not be required to pay tax.
The new regime offers NIL income tax for earnings up to Rs 12 lakh. Sitharaman’s middle-class tax relief announcement set the internet crazy, as netizens shared memes and jokes with Bollywood videos and songs. Social media users broke out into a meme fest as they welcomed the "No Income Tax" decision.
Take a Look at Some of the Funny Memes and Jokes Here:
FM Sitharaman gave her 8th consecutive Budget speech this year. Her 74-minute speech made a big announcement for the middle class for the financial year 2025-26 today. Limit to be Rs. 12.75 lakh for salaried taxpayers, with a standard deduction of Rs. 75,000. Union Budget 2025-26 brings across-the-board changes in Income Tax Slabs and rates to benefit all taxpayers. Tax slab rate reduction and rebates result in substantial tax relief to the middle class, thereby boosting household consumption expenditure and investment.
She also announced the Prime Minister Dhan-Dhaanya Krishi Yojana, which will be launched in 100 Low-Crop Productivity Districts. The Programme will help 1.7 crore farmers enhance Agricultural Productivity, Improve irrigation facilities, and facilitate long-term and short-term credit.