Budget: Zero tax for residents, but NRIs will miss out on rebate

Budget 2025-26 has been well received by middle-class Indians, especially due to the zero tax on income of up to ₹12 lakh under the new tax regime. But, non-resident Indians (NRIs) are not thrilled.

- Sashind Ningthoukhongjam

According to the new rules, individuals will get a rebate of up to ₹60,000 on tax paid for income up to ₹12 lakh per year under Section 87A. However, the rebate is exclusively available to residents and does not extend to those who qualify as NRIs under Income Tax Act.