Question
For an individual resident in India aged below 60 years, the basic exemption limit for the Financial Year 2025-26 (Assessment Year 2026-27) is:
Solution
As per the existing tax slabs under the old regime (as of the Finance Act 2023 and expected to continue unless changed by a new Budget), the basic exemption limit for an individual below 60 years is ₹2,50,000. (Note: Always verify against the latest Finance Act).
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