In the Budget of 1995–96, the income-tax exemption limit was increased up to—

Explanation

At the time of the question, option (b) was the correct answer. As per the Union Budget 2026–27, under the new tax regime, the income-tax slab rates are as follows— <table> <tr> <th>Total Income (in rupees)</th> <th>Rate (percent)</th> </tr> <tr> <td>₹0–₹4 lakh</td> <td>— 0</td> </tr> <tr> <td>₹4–₹8 lakh</td> <td>— 5</td> </tr> <tr> <td>₹8–₹12 lakh</td> <td>— 10</td> </tr> <tr> <td>₹12–₹16 lakh</td> <td>— 15</td> </tr> <tr> <td>₹16–₹20 lakh</td> <td>— 20</td> </tr> <tr> <td>₹20–₹24 lakh</td> <td>— 25</td> </tr> <tr> <td>Above ₹24 lakh</td> <td>— 30</td> </tr> </table>