2025 Poverty Line Income Tax. Finance minister nirmala sitharaman on tuesday proposed a reduction in the basic customs. The government has increased the standard deduction limit to rs 75,000, allowing the salaried class to save up to rs 17,500 in taxes under the new regime.
Real median household income rose to $80,610 in 2023, up 4.0% from 2022. To get a better picture of income levels and hence, poverty.