An hour or so back, some ‘reliable’ sources appeared claiming that the Indian ministry of finance was considering income tax exemption for people making up to ₹15 lakhs. The government is completely dismissing this rumor; therefore, this article delves into the current tax structure of India, describing its tax slabs and rebates, as well as the reforms. The official process of changing taxes in India is mentioned, which includes budget announcements, cabinet approval, and parliamentary legislation. It makes a point that false claims affect public trust, stability in the market, and financial decision-making, warning people to rely on only authentic sources for tax-related information.