Even as many celebrated, others grew to become to social media to percentage combined reactions.
Memes flooded the internet, joking that those incomes above Rs 12 lakh would possibly now not have a good time over revenue hikes. however, a viral submit on X, previously called twitter quickly shifted the point of interest to profits inequality in India.
"Best IT folks are crying approximately contemporary tax rebate as much as 12L. for plenty in non-IT fields, 12L is a dream even after 7-10 years of enjoy," an X consumer wrote, urging excessive earners to forestall calling themselves "lower center magnificence."
This sparked a heated dialogue, with a fintech fanatic claiming that everyone incomes underneath Rs 60 lakh according to year is "terrible." in step with the person, high taxation salaries and the growing cost of living make Rs 60 lakh the brink for the center magnificence. The remark drew sharp responses, with many arguing that wealth, now not earnings, determines monetary fame.
No profits Tax as much as Rs 12 Lakh: Is ITR (profits Tax Returns) submitting mandatory?
One consumer mentioned that someone earning Rs 24 lakh with a strong investment portfolio might be wealthier than a Rs 60 lakh earner with heavy liabilities. another puzzled the good judgment, saying, "If Rs 60L-Rs 1Cr is center magnificence, then is Rs 12L underneath the poverty line?"
No matter the backlash, a few users agreed. "you are not wealthy until you have got generational wealth," one commented, even as any other stated, "rs 50 lakh is the minimum needed for a first rate life in towns like mumbai and bengaluru."
As the debate rages on, one aspect is apparent-what defines "center elegance" is more than simply a number.