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The income tax rebate under the new tax regime has been raised from Rs. 7 lakhs to Rs. 12 lakhs, so an individual with an income of up to Rs. 12 lakhs will have zero tax liability. For salaried individuals, a standard deduction of Rs. 75,000 can be claimed. Effectively, a salaried individual with an income of up to Rs. 12.75 lakhs will have zero tax liability.