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Can 0 Tax Threshold Be Extended To Over 14L Instead Of Rs 12L
Can Zero-Tax Threshold Be Extended To Over 14 Lakh Instead Of Rs 12 Lakh Under New Tax Regime? Explained
Income tax is zero for those earning up to Rs 12 lakh per annum under New Tax Regime.
As Finance Minister Nirmala Sitharaman presents the Union Budget on February 1, 2026, the general public and taxpayers will watch out for possible changes on the income tax front. Budget 2026 is especially important for taxpayers as the FM may reveal this year's tax reforms.
The government introduced the New Tax Regime in Budget 2020 and has since made several changes to accommodate the interests of taxpayers. In Budget 2025, FM Sitharaman reduced the income tax rates and made income tax-free for those earning up to Rs 12 lakh per annum. The changes were made in the New Tax Regime. When FM Sitharaman presents the Budget 2026, the general public will be more interested in whether the zero-tax threshold will remain in the new budget.
Pay no income tax for up to Rs 14.65 lakh
Tax experts claim that salaried employees who opt for the new regime can avoid paying taxes on incomes of up to Rs 14.65 lakh by structuring their income around employer-supported retirement schemes. Under the new tax regime, employees can keep their income of up to Rs 14.65 lakh tax-free if they are eligible for the Employees' Provident Fund (EPF) and the National Pension System (NPS) employer contribution exemption.
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Under the ideal structure, an employee's basic salary should account for around 50 percent of total CTC. If the employer contributes 12 percent of basic salary to EPF and up to 14 percent to NPS, the tax impact changes significantly. With these contributions and the standard deduction of Rs 75,000, a gross salary of around Rs 14.65 lakh can be reduced to a taxable income of just under Rs 12 lakh, the zero-tax threshold under the new regime.
NPS is a powerful lever for tax planning
According to tax experts, employer contributions to EPF are exempt under Section 17(2) while employer contributions to NPS are eligible under Section 80CCD(2). As a result, employer-facilitated NPS becomes the most powerful lever for tax planning.
Things to remember
It should be remembered that there are limits to these advantages. Combined employer contributions to EPF, NPS and superannuation funds are exempt only up to Rs 7.5 lakh annually. Any sum over this cap is subject to perquisite taxation. Furthermore, under the new system, employee-funded NPS contributions are not deductible unless they are processed through payroll as part of employer contributions.
How can you make your Rs 14.65 lakh salary tax-free?
On a CTC of Rs 14.65 lakh with basic salary at Rs 7.32 lakh, employer NPS of Rs 1.02 lakh and employer EPF of Rs 87,900 and after accounting for the standard deduction taxable income falls to about Rs 11.99 lakh, meaning there is no income tax burden.
Source: ZeeNews
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