“The government of India proposes a new income tax regime with the following slabs and rates: 0% for income up to 4 lakh rupees, 5% for 4-8 lakh, 10% for 8-12 lakh, 15% for 12-16 lakh, 20% for 16-20 lakh, 25% for 20-24 lakh, and 30% for income above 24 lakh rupees.”