Opted for new tax regime? Why income below ₹12 lakh can still trigger a demand notice

The ₹12 lakh income tax threshold under the new tax regime has brought significant relief to individual taxpayers. However, for those earning income from a business or profession, this headline figure can sometimes create a false sense of security. Simply having an income below ₹12 lakh does not automatically mean that no tax will be payable or that the […]