Union finance minister Nirmala Sitharaman on February 1, in a major boost to consumption, announced no tax liability for individuals with a salary of up to Rs 12 lakh. Sitharaman said the move ...

Income Tax 2025: Nirmala Sitharaman’s 2025 budget introduces a revamped tax structure, eliminating income tax for earnings up to Rs. 12 lakh. (REUTERS) Union Finance Minister Nirmala Sitharaman ...

Under the new slabs, taxpayers with Rs 12 lakh annual income will get a benefit of Rs 80,000 and those earning Rs 18 lakh will get a benefit of Rs 70,000, Ms Sitharaman told the parliament.

Over the past decade, key changes have included higher exemption limits, revised tax slabs, and enhanced rebates, reflecting a consistent push for tax relief. Budget 2025 prioritised three key ...

The income tax system in India operates through a progressive slab structure. The amount of tax an individual pays is directly proportional to their income in a financial year. The system is ...

Union Budget 2025: Last year, Sitharaman in her budget speech proposed a new tax structure under the new income tax regime. Finance minister Nirmala Sitharaman will present the Union Budget on ...

25% slab introduced for high earners and tax relief up to 30.8% for middle-income group. Read this table to see how much tax you can save at different income levels ranging from Rs 9 lakh to Rs 2.4 ...

EY India’s analysis indicates that taxpayers opting for the new tax regime in FY 2024-25 will benefit further in FY 2025-26 due to the revised slabs. Shalini Jain, tax partner at EY India, said the ...

The most significant takeaway from this budget is that taxpayers earning up to Rs 12 lakh will effectively pay zero tax, but do the latest slabs mention tax on income below Rs 12 lakh? It is important ...

Taxpayers couldn’t have asked for more from Finance Minister Nirmala Sitharaman. Income tax rates have been slashed, and tax slabs have been rationalised further. The basic exemption, or income free ...

Income Tax Slabs 2025 LIVE Updates: Tax reforms show empathy of govt towards the middle class, says Allcargo Group Chair ”The budget has put the economy firmly on the track to attain the Viksit Bharat ...

In the 2025 Budget, Finance Minister Nirmala Sitharaman introduced significant revisions to the income tax slabs under the new tax regime. These changes aim to ease the financial burden on ...