Notably, the Finance Minister has raised the tax-free income threshold to Rs 12 lakh, translating to Rs 12.75 lakh for salaried individuals after considering the standard deduction. A key highlight this Budget for middle-class and salaried taxpayers is the exemption of income tax for those earning up to Rs 12 lakh (or Rs 12.

Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant income tax relief for the midd

Learn about the new and old tax regimes, including tax rates and surcharges applicable to various income levels.

The government’s latest tax overhaul of income tax slabs in Budget 2025 is aimed at introducing a more streamlined tax system, providing relief to the harried middle-class salaried taxpayer. But does this necessarily mean better savings for taxpayers?

Union Finance Minister (FM) Nirmala Sitharaman, who presented her eighth consecutive Union Budget on February 1, streamlined personal income-tax (I-T) slabs and adjusted tax deducted at source (TDS) limits. The government also plans to introduce a new I-T Bill next week.

In a big bonanza for salaried taxpayers, Finance Minister Nirmala Sitharaman announced that there will be no income tax to be paid for income levels up to Rs 12 lakh. Income Tax Budget 2025 Live: What are the income tax slabs,