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| Name of the scheme | 1-year back | Invest now | Fund category | expense ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest now | Equity: Big Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest now | Equity: Big Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest now | Equity: Big Cap | 0.25% |
| Axis Nifty 500 Index Fund | , | Invest now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest now | Equity: Mid Cap | 0.28% |
Therefore, while salaried individuals directly benefit from standard deductions, non-Namkin taxpayers earn above 12 lakhs also stand for profit through a mechanism known as marginal relief.
This provision ensures that income taxpayers are not subject to high tax rates with more than ₹ 12 lakh income.
For example, if a non-synchronous person earns 12.1 lakhs, they usually increase the tax liability of ₹ 61,500 under regular tax slabs. However, with marginal relief, this liability is largely reduced to ₹ 10,000, ensuring that the tax burden is proportional to income above the 12 million range.
Eligibility for marginal relief
Marginal relief is available to those whose income is more than 12 lakhs, but does not exceed ₹ 12.75 lakh. If the taxpayer’s income is more than 12.75 lakhs, the marginal relief is no longer applicable, and they will be subject to regular tax rates.
There is a look at the proposed tax rates here:
,Note: The same will be applicable from April 2025)
Rebate versus marginal relief
Rebate is available to those who are available to those who earn ₹ 12 lakh or less, who provide full tax exemption under the new regime.
On the other hand, marginal relief is available to individuals earning more than ₹ 12 lakhs, ensuring that the tax burden is aligned with income above ₹ 12 lakhs.
According to the government’s estimates as a result of the joint impact of these changes, 1 lakh crore tax is expected to be saved.
This will increase disposable income and contribute to maximum financial flexibility for taxpayers, the government said.
Also read In these cases, salary tax of up to ₹ 12 lakh will not be free under the new regime.
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