Union Budget 2023 : FM Announces New Income Tax Rates; Slabs Reduced To 5, Exemption Raised To Rs 3 Lakhs In New Regime
2 years, 1 month ago

Union Budget 2023 : FM Announces New Income Tax Rates; Slabs Reduced To 5, Exemption Raised To Rs 3 Lakhs In New Regime

Live Law  

In her Budget 2023-24 speech, Union Finance Minister Nirmala Sitharaman has announced that the increase in the income tax rebate limit from Rs. 7 Lakhs in the new tax regime.For the middle class person, the proposal under the new income tax regime has been a huge relief. For the middle class person, the proposal under the new income tax regime has been a huge relief. New tax structure announced for new tax regime "I had introduced in 2020 the new personal income tax regime with 6 income slabs starting from 2.5 lakhs.

Income Tax Income Regime Lakhs Rs 7 Lakh Tax Pay Slabs Reduced  relief  slabs  reduced  income  raised  required  individual  union  sitharaman  tax  pay  rs  regime  rates  lakhs

History of this topic

New Income Tax Bill: Simpler, lighter and future-ready
1 month, 1 week ago

New Income Tax Bill: Simpler, lighter and future-ready

Live Mint  

The long-awaited bill for the new tax code was tabled in Parliament on Thursday. The bill fulfills the finance minister's commitment to provide an income tax law that is straightforward for both taxpayers and tax administrators, aiming to establish tax certainty and reduce litigation. As promised, on the first flush, the new income tax bill is direct in text, replacing …

New Income Tax bill 2025 tabled in Parliament: Top 10 highlights every taxpayer MUST know
1 month, 1 week ago

New Income Tax bill 2025 tabled in Parliament: Top 10 highlights every taxpayer MUST know

Live Mint  

Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in the Lok Sabha on Thursday, 13 February. New Income Tax Bill 2025 tabled in Parliament. “Based on my cursory reading of the new income tax bill, I feel it is merely a good job of editing the existing Income Tax Act. 8) Taxes for cryptocurrency In Clauses 67 to …

New Income Tax Bill 2025: Concept Of "Tax Year" To Be Introduced Instead Of "Assessment Year", "Financial Year" To Remain Unchanged
1 month, 1 week ago

New Income Tax Bill 2025: Concept Of "Tax Year" To Be Introduced Instead Of "Assessment Year", "Financial Year" To Remain Unchanged

Live Law  

The new Income Tax bill is set to introduce the concept of 'Tax Year'. For the purposes of this Act, “tax year” means the twelve months period of the financial year commencing on the 1st April. Amortisation of certain preliminary expenses: As per the existing Income Tax Act, 1961, Section 35D states that where an assessee, being an Indian company …

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered
1 month, 1 week ago

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered

Live Mint  

Amid the new Income Tax Bill 2025, we answer several FAQs on tax slabs, the old vs. new regime, the new income tax rules, exemption limits, and more. Individuals earning up to ₹12 lakh annually will not have to pay any income tax under consideringthe new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class …

New income tax regime: Check revised tax rates, slabs, and will you benefit?
1 month, 1 week ago

New income tax regime: Check revised tax rates, slabs, and will you benefit?

India Today  

The new income tax regime is set to become the preferred option for the majority of taxpayers in the upcoming financial year, following the proposals in the Union Budget 2025. In fact, salaried individuals with an annual income of Rs 12.75 lakh won't have to pay any tax, given the standard deduction of Rs 75,000 under the new regime. High-income …

Income Tax Bill to make rules simpler, easy to read
1 month, 1 week ago

Income Tax Bill to make rules simpler, easy to read

New Indian Express  

NEW DELHI: The Income Tax Bill, approved by the Cabinet on Friday, will not have any rate surprises. The bill is a major exercise in making the income tax rules simpler and easily comprehensible. What we are saying is that a law which has been amended more than 4,000 times, and has a lot of redundant provisions, can have a …

Hope to introduce new income tax bill in Lok Sabha next week: Nirmala Sitharaman
1 month, 1 week ago

Hope to introduce new income tax bill in Lok Sabha next week: Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on Saturday said she is likely to introduce the new income tax bill, which will replace the six-decade-old I-T Act, in the Lok Sabha in the coming week. “Yesterday, the Cabinet cleared the New Income Tax proposal, I hope to have it introduced in the Lok Sabha in the coming week. “I still have three critical …

New Income Tax Bill Greenlit By Union Cabinet To Streamline Taxation Framework: Report
Top News
1 month, 1 week ago

New Income Tax Bill Greenlit By Union Cabinet To Streamline Taxation Framework: Report

ABP News  

New Income Tax Bill: The Union Cabinet has reportedly given its nod to a new Income Tax Bill aimed at simplifying India’s tax framework and modernising compliance procedures, as reported by PTI citing sources. Finance Minister Nirmala Sitharaman first announced the Narendra Modi Government's intent to overhaul the tax framework during her Budget 2024 presentation. Updated Tax Slabs & Rates …

New income tax bill expected to be approved by Cabinet tomorrow, tabled in parliament next week
Trending News
1 month, 2 weeks ago

New income tax bill expected to be approved by Cabinet tomorrow, tabled in parliament next week

Firstpost  

Once the new income tax bill, which Union Finance Minister Nirmala Sitharaman had mentioned while delivering the Budget 2025-26, has been approved by the Union Cabinet, it could be tabled in the parliament as soon as Monday India's Finance Minister Nirmala Sitharaman poses with officials while leaving her office to present the Union Budget. Reuters The new income tax bill, …

New Tax Regime: Should you opt for it over old tax regime? All about income tax slabs, exemptions and more
1 month, 2 weeks ago

New Tax Regime: Should you opt for it over old tax regime? All about income tax slabs, exemptions and more

Live Mint  

In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Deduction under section 80JJAA: This allows eligible businesses to claim a deduction for hiring new employees Standard deduction benefit In 2023, the finance minister announced the new tax regime as …

New Income Tax Bill likely to be approved by Cabinet tomorrow. Check key details
1 month, 2 weeks ago

New Income Tax Bill likely to be approved by Cabinet tomorrow. Check key details

India Today  

The Union Cabinet may approve the new Income Tax Bill on Friday, paving the way for its introduction in the Lok Sabha as early as Monday, sources said. While presenting the Union Budget 2025, Finance Minister Nirmala Sitharaman announced the government’s intent to bring a new Direct Tax Code. The government has already made it clear that the bill will …

When Will The New Income Tax Rates Come Into Effect?
1 month, 2 weeks ago

When Will The New Income Tax Rates Come Into Effect?

ABP News  

Finance Minister Nirmala Sitharaman announced a major income tax relief in her Budget 2025 speech on Saturday, stating that no tax will be payable on annual incomes up to Rs 12 lakh under the New Tax Regime. With the standard deduction of Rs 75,000, this effectively raises the tax-free income threshold to Rs 12.75 lakh for salaried individuals. Revised Tax …

All income groups got a little something from the Budget
Trending News
1 month, 2 weeks ago

All income groups got a little something from the Budget

Live Mint  

The Union Budget 2025 aimed to put more money in the hands of every income group—whether salaried professionals, gig workers, rental income earners, or senior citizens—by tweaking tax slabs, deductions, and exemptions. The Bill proposes that persons opting for the new personal tax regime in financial year 2025-26, and having income upto ₹12 lakh, will not be required to pay …

Old tax regime: Time to let go after Budget 2025 changes?
1 month, 2 weeks ago

Old tax regime: Time to let go after Budget 2025 changes?

India Today  

The Union Budget 2025 introduced major changes to the new income tax regime, making it more attractive for middle-class taxpayers. NEW TAX REGIME vs OLD TAX REGIME In the past, many taxpayers preferred the old tax regime because it allowed them to claim deductions for expenses like house rent, home loan interest, and investments in schemes like the Public Provident …

New income tax slabs: Check how much you'll save with these simple calculations
1 month, 2 weeks ago

New income tax slabs: Check how much you'll save with these simple calculations

India Today  

The Union Budget 2025 has introduced major changes to the new income tax regime, making it more attractive for salaried individuals. He also shared an example to show how the new tax regime changes will impact salaried taxpayers with incomes up to Rs 25 lakh: Kunal Savani, Partner, Cyril Amarchand Mangaldas, shared the new tax rates and slabs will benefit …

How Union Budget 2025 has seen the biggest tax break in 20 years
1 month, 2 weeks ago

How Union Budget 2025 has seen the biggest tax break in 20 years

Firstpost  

The Union Budget 2025-26 has delivered the largest tax exemption hike in two decades, allowing individuals earning up to Rs 12 lakh annually to pay zero income tax under the new regime. Under the new tax regime, individuals earning up to Rs 12 lakh annually will have zero income tax liability, marking a major relief for the salaried middle class. …

Tax Reforms In Budget 2025 Should Help Bring In Majority Of Taxpayers To New Income Tax Regime, Says CBDT Chairman
1 month, 2 weeks ago

Tax Reforms In Budget 2025 Should Help Bring In Majority Of Taxpayers To New Income Tax Regime, Says CBDT Chairman

ABP News  

CBDT Chairman, Ravi Agrawal, on Sunday said that revisions in the tax slabs should bring nearly all the individual taxpayers to the new income tax regime. Speaking in an interview with PTI, the Central Board of Direct Taxes executive said that the Budget 2025’s announcement of no tax on earnings up to Rs 12 lakh per annum should help the …

No income tax upto Rs 12 lakh: Social media sparks meme frenzy after Budget 2025, netizens in celebration mode
1 month, 2 weeks ago

No income tax upto Rs 12 lakh: Social media sparks meme frenzy after Budget 2025, netizens in celebration mode

India TV News  

The internet is buzzing with emotions after Finance Minister Nirmala Sitharaman announced a tax break for India's middle class on Saturday, claiming that those earning up to Rs 12 lakh will not be required to pay any income tax under the new regime. Nirmala Sitharaman, who delivered the Union Budget for 2025-26 in the Lok Sabha at 11 a.m., stated …

Tax axe budget prods people to spend more
1 month, 2 weeks ago

Tax axe budget prods people to spend more

New Indian Express  

NEW DELHI: a country is not just its soil, a country is its people—a famous line of Telugu poet and playwright Gurajada Appa Rao quoted by Finance Minister Nirmala Sitharaman in her speech—sums up the focus of Budget 2025-26. The middle class was the central focus of the Budget, which heralded a big income tax cut the demand for which …

Fresh slabs may prompt over 90% taxpayers to choose new regime: Tax body chief
1 month, 2 weeks ago

Fresh slabs may prompt over 90% taxpayers to choose new regime: Tax body chief

India Today  

The Central Board of Direct Taxes Chairman Ravi Agrawal said that over 90 per cent of individual taxpayers are expected to adopt the new tax regime, up from the current 75 per cent, after Finance Minister Nirmala Sitharaman announced zero tax for earnings of up to Rs 12 lakh per annum in her Union Budget 2025 speech. Sitharaman, on Saturday, …

PM quickly got behind tax cut, bureaucrats took convincing: Finance Minister
1 month, 2 weeks ago

PM quickly got behind tax cut, bureaucrats took convincing: Finance Minister

India Today  

Union Finance Minister Nirmala Sitharaman on Sunday said Prime Minister Narendra Modi was clear about the need for tax relief in the Union Budget and supported the income tax rebate, adding that it took time to convince the bureaucrats. VIDEO | Full Interview: "PM Modi was very clear, it was tough to convince board and ministry," Finance Minister Nirmala Sitharaman …

Union Budget 2025: Tax bonanza for middle class
Trending News
1 month, 2 weeks ago

Union Budget 2025: Tax bonanza for middle class

The Hindu  

If your car is sputtering, and a faulty fading battery appears to be the cause, the only immediate alternative is to try and jumpstart it by hooking it up with another running car. Finance Minister Nirmala Sitharaman sought to do just that on Saturday with her Union Budget for 2025-26 — jumpstart slowing economic activity with a significant ₹1 lakh …

Budget 2025: Was this a death knell for the old tax regime?
1 month, 2 weeks ago

Budget 2025: Was this a death knell for the old tax regime?

Live Mint  

Budget 2025: Union Finance Minister Nirmala Sitharaman announced the revision of tax slabs for taxpayers under the new tax regime. The tax slab rates under the old tax regime are as follows: Slab Tax 0-2.5 lakh NIL 2.5 to 5 lakh 5% 5 lakh to 10 lakh 20% Above 10 lakh 30% Now imagine someone who earns ₹12 lakh is …

Goodbye old tax regime; new regime now more attractive
1 month, 2 weeks ago

Goodbye old tax regime; new regime now more attractive

Live Mint  

The budget’s biggest, shiniest takeaway: no tax on income up to ₹12 lakh. First, zero tax up to ₹12 lakh as well as the attractive new tax slabs are only applicable to the new tax regime. For instance, even if your income is above the ₹12 lakh or ₹12.75 lakh rebate limit, you still have the ongoing provision of claiming …

No income tax for annual income upto Rs 12 lakh in New Tax Regime
1 month, 2 weeks ago

No income tax for annual income upto Rs 12 lakh in New Tax Regime

Deccan Chronicle  

Mumbai : At a time when the economy is slowing, the Union Budget 2025-26 on Saturday announced major tax reliefs for the middle class to bolster their spending power thereby invigorating domestic consumption. Finance Minister Nirmala Sitharaman while presenting the Budget announced that under the New Tax Regime, no income tax will be payable for salaried individuals with total income …

After Budget 2025, should you opt for old or the new tax regime?
1 month, 2 weeks ago

After Budget 2025, should you opt for old or the new tax regime?

Firstpost  

A comparison of the two regimes would clearly indicate that the intention of the Government is to streamline the process and ensuring a simpler tax environment to ensure compliance In the year 2024, when an individual filed the return of income, the buzz word around was whether to opt for “new regime” or to pay tax under “old regime”. Over …

Old vs new tax regime: How Budget 2025 alters your tax choices
Top News
1 month, 2 weeks ago

Old vs new tax regime: How Budget 2025 alters your tax choices

Firstpost  

Recognising the significant contributions of the middle class, the Government of India has consistently reduced their tax burden over the years Union Finance Minister Nirmala Sitharaman presented her eighth consecutive budget on February 1, 2025, making her the only finance minister in Indian history to achieve this milestone. As a strong commitment towards the middle class, the government has proposed …

Tax Cuts In Budget 2025 Will Help You Save More, But Don’t Forget To Secure The Money
1 month, 2 weeks ago

Tax Cuts In Budget 2025 Will Help You Save More, But Don’t Forget To Secure The Money

ABP News  

Today was a day of celebration for the middle class as Finance Minister Nirmala Sitharaman presented a landmark Union Budget. Based on this data, roughly 85 per cent of taxpayers will pay no tax from next year if they opt for the new tax regime. After the announcement, the new tax rates stand as follows: New Tax slabs Tax Rate …

Income tax payable on same income has come down by over 50% since 2014
1 month, 2 weeks ago

Income tax payable on same income has come down by over 50% since 2014

Op India  

The union budget for 2025-26 makes significant changes to the Income Tax regime, which is going to provide major relief to taxpayers. Moreover, the slabs have been changed, ensuring that there will be lower tax outgo even for those who come under taxable bracket with income above ₹12 lakh. While now there is no tax on income up to ₹12 …

Budget 2025: Income tax gains depend on your investments too. 6 scenarios explained
1 month, 2 weeks ago

Budget 2025: Income tax gains depend on your investments too. 6 scenarios explained

Firstpost  

Acknowledging the contribution of a young demography to the direct tax revenue and coming through on the promise made to the middle class taxpayers to leave more cash in hand, Union Finance Minister Nirmala Sitharaman proposed significant changes in the tax rates and slabs under the new tax regime. Here’s a comparative scenario on how much tax one will have …

New income tax slabs and more: The big Budget 2025 announcements, in graphics
Trending News
1 month, 2 weeks ago

New income tax slabs and more: The big Budget 2025 announcements, in graphics

Firstpost  

Finance Minister Nirmala Sitharaman tabled the Union Budget for the financial year 2025-2026 in Parliament on Saturday. From a change in income tax slabs to a boost to IIT infrastructure, here are the major announcements of the Budget Finance Minister Nirmala Sitharaman tabled the Union Budget for the financial year 2025-2026 in Parliament on Saturday. Here’s a quick look at …

Middle class jackpot! Who saves the most under the new tax regime?
1 month, 2 weeks ago

Middle class jackpot! Who saves the most under the new tax regime?

Hindustan Times  

Income Tax Slabs and Rates – FY 2024-25, AY 2025-26: Union finance minister Nirmala Sitharaman, the Budget 2025, announced on Saturday that annual income of up to ₹12 lakh will be exempt from Income Tax under the new regime. “The revamped tax slabs under the new tax regime as introduced by the Finance Bill 2025, aim to provide significant relief …

Union Budget 2025-26: Dimple Yadav questions lack of innovation and calls for justice
1 month, 2 weeks ago

Union Budget 2025-26: Dimple Yadav questions lack of innovation and calls for justice

Hindustan Times  

Samajwadi Party MP Dimple Yadav on Saturday criticised Union Budget presented by Finance Minister Nirmala Sitharaman in Lok Sabha, saying that there was "nothing new" in the Budget. Asserting that there was "nothing new" in the Union Budget, Samajwadi Party MP Dimple Yadav attacked it on Saturday when Finance Minister Nirmala Sitharaman delivered it to the lawmakers. Union Finance Minister …

Budget 2025: Will income tax slab change impact your take-home salary? 5 things employees must know
1 month, 2 weeks ago

Budget 2025: Will income tax slab change impact your take-home salary? 5 things employees must know

India TV News  

Budget 2025: Union Finance Minister Nirmala Sitharaman on Saturday announced during the Budget 2025 that no income tax will be paid on earnings up to Rs 12 lakh, or up to Rs 12.75 lakh including standard deductions, under the new tax regime. This move of the Centre means even if people earning between Rs 8 to 10 lakh end up …

Your Budget 2025 Guide: Income tax slabs, rates, and key benefits. All your queries answered
1 month, 2 weeks ago

Your Budget 2025 Guide: Income tax slabs, rates, and key benefits. All your queries answered

Live Mint  

Your Budget 2025 Guide: Under the new income tax slabs announced by Finance Minister Nirmala Sitaraman, income up to ₹12 lakh will be tax-free. Up to ₹4 lakh - 0 per cent ₹4-8 lakh - 5 per cent ₹8 12 lakh - 10 per cent ₹12-16 lakh - 15 per cent ₹16-20 lakh - 20 per cent ₹20-24 lakh - …

Budget 2025: FM Sitharaman explains how taxpayers will save up to ₹2.6 lakh under new tax rates
Top News
1 month, 2 weeks ago

Budget 2025: FM Sitharaman explains how taxpayers will save up to ₹2.6 lakh under new tax rates

Live Mint  

Budget 2025: Union Finance Minister Nirmala Sitharaman on Saturday announced new tax slab rates under the new tax regime during her Budget 2025 speech, which will benefit taxpayers across the board. During a press briefing after the Budget 2025 speech, Sitharaman said that not only those earning ₹12 lakh will not have to pay any tax, but there will be …

In economy's shifting sands, a budget to boost demand
1 month, 2 weeks ago

In economy's shifting sands, a budget to boost demand

Live Mint  

The Union budget presented by finance minister Nirmala Sitharaman on Saturday can be framed against two major shifts in the Indian economy. The latest budget numbers show that income tax is expected to account for ₹22 out of every ₹100 of receipts that will flow into the government treasury. The second major shift: In February 2021, the finance minister had …

New income tax slabs: How much will you the taxpayer save, end up paying, explained
1 month, 2 weeks ago

New income tax slabs: How much will you the taxpayer save, end up paying, explained

Live Mint  

Budget 2025 brought unexpected cheer to a large section of middle-class taxpayers who may opt to file their returns under the new tax regime. The sharp reduction in tax liability was made possible by a rejig of tax slabs under the new tax regime, the introduction of a new slab and enhanced rebates. Old tax regime turns unattractive What is …

All personal finance updates from Budget 2025
1 month, 2 weeks ago

All personal finance updates from Budget 2025

Live Mint  

Finance minister Nirmala Sitharaman unveiled the Union Budget 2025-26 on 1 February, introducing a series of measures aimed at easing taxpayers’ burden. Here’s a breakdown of the key changes: No tax on income up to ₹ 12 lakh In a major relief for taxpayers, the Union Budget has proposed raising the tax-free income threshold to ₹12 lakh, up from ₹7 …

Union Budget 2025: Income tax’s share in gross collections expected to rise, despite change in tax slabs
1 month, 2 weeks ago

Union Budget 2025: Income tax’s share in gross collections expected to rise, despite change in tax slabs

The Hindu  

Despite announcing that no income tax needs to be paid up to an income of Rs 12 lakh under the new regime, the government is still expecting the share of income tax in gross tax collections to increase in the financial year FY26. Union Budget 2025 LIVE updates The government is expecting to get Rs 14,38,000 crore from income tax …

What are the new income tax slabs introduced in Union Budget 2025? How much will you save now?
1 month, 2 weeks ago

What are the new income tax slabs introduced in Union Budget 2025? How much will you save now?

Firstpost  

In Budget 2025, Finance Minister Nirmala Sitharaman has announced changes to the income tax slabs in the new regime. No tax on income up to Rs 12 lakh While delivering her Budget speech, which was 74 minutes in duration, Finance Minister Nirmala Sitharaman announced that the government will raise the tax rebate limit in the new regime from Rs 7 …

Budget 2025: One reason Sitharaman can afford to give income tax benefits
1 month, 2 weeks ago

Budget 2025: One reason Sitharaman can afford to give income tax benefits

Firstpost  

Finance Minister Nirmala Sitharaman on Saturday announced major tax benefits for the middle class, with positive tax collections likely being one reason for her to arrive at such a decision Finance Minister Nirmala Sitharaman on Saturday announced major tax benefits for the middle class, with positive tax collections likely being one of the reasons for her to arrive at such …

New income tax slabs: From when is it applicable for salaried individuals? Check details here
1 month, 2 weeks ago

New income tax slabs: From when is it applicable for salaried individuals? Check details here

Live Mint  

Budget 2025, Income Tax Slab Update: Finance Minister Nirmala Sitharaman in her Union Budget 2025 speech announced new income tax slabs for salaried individuals. The tax slabs and rates announced by Sitharaman in her record eighth consecutive Union Budget speech are as follows: ₹ 0-4 lakh: Nil 0-4 lakh: Nil ₹ 4-8 lakh: 5 per cent 4-8 lakh: 5 per …

Union Budget 2025 has good news on income tax for NRIs too
1 month, 2 weeks ago

Union Budget 2025 has good news on income tax for NRIs too

Firstpost  

Under the revised New Income Tax Regime for 2025, the tax-free income threshold, including the standard deduction, has been raised to Rs 12.7 lakh. Additionally, individuals earning up to Rs 25 lakh will benefit from a tax reduction of up to Rs 1.1 lakh Union Budget 2025 has been a treat to the middle class after Finance Minister Nirmala Sitharaman …

Still Calculating Your Tax Under New Slabs? Three Questions About New Tax Regime Answered
1 month, 2 weeks ago

Still Calculating Your Tax Under New Slabs? Three Questions About New Tax Regime Answered

ABP News  

In her 8th consecutive Budget speech, Finance Minister Nirmala Sitharaman introduced significant changes to the Income Tax slabs, especially benefiting salaried individuals. Question 1: Do I have to pay tax if my income is Rs 12 lakh and one rupee, and I am part of the new tax regime? The new revised tax slabs are as follows: 0-4 lakh rupees …

Budget 2025: New tax regime vs. old tax regime – which one should you now opt for?
1 month, 2 weeks ago

Budget 2025: New tax regime vs. old tax regime – which one should you now opt for?

Live Mint  

Union Budget 2025: With income tax slabs becoming more attractive, it is quite tempting for the taxpayers now to choose a new tax regime over the old tax regime. Sample this: If your income is ₹12.75 lakh, income tax in the new tax regime is 0 whereas in the old regime tax would be ₹1.8 lakh. When income is ₹15.75 …

Revised Income Tax Slabs: How much money will you save in the new regime post Budget 2025? Here’s the math
1 month, 2 weeks ago

Revised Income Tax Slabs: How much money will you save in the new regime post Budget 2025? Here’s the math

Live Mint  

Budget 2025 Income Tax Changes: Finance Minister Nirmala Sitharaman proposed sweeping tax reforms for the middle class in the Budget 2025. From zero tax on income of up to ₹12 lakh to cutting the income tax rates proposed in the new tax regime, Budget 2025 came as a much needed relief for the taxpayers. Budget 2025: Proposed income tax rates …

Budget 2025: Middle Class Wins Big in 2025 Budget with Tax Cuts | ABP NEWS
1 month, 2 weeks ago

Budget 2025: Middle Class Wins Big in 2025 Budget with Tax Cuts | ABP NEWS

ABP News  

The 2025 budget has brought significant relief for the middle class, exceeding expectations. Finance Minister Nirmala Sitharaman announced substantial tax benefits, making the new tax regime more favorable compared to the old one. Unlike the old tax regime, which required various investment avenues for tax exemptions, the new regime directly puts money in the pocket of taxpayers without requiring additional …

Revised income tax slabs: How much do you save? Calculation of benefits
1 month, 2 weeks ago

Revised income tax slabs: How much do you save? Calculation of benefits

Hindustan Times  

Revised Income tax slabs: Union finance minister Nirmala Sitharaman on Saturday announced that annual income up to ₹12 lakh will no longer attract any tax. Revised Income tax slabs: Under the new tax regime, a nil tax slab will apply to annual incomes up to ₹ 12 lakh. Following are revised slabs and rates under new tax regime announced in …

What Changes For You With New Income Tax Slabs? Check The Revised Rates In Budget 2025
1 month, 2 weeks ago

What Changes For You With New Income Tax Slabs? Check The Revised Rates In Budget 2025

ABP News  

Finance Minister Nirmala Sitharaman presented her eighth consecutive budget on Saturday and announced some massive changes for the upcoming fiscal year. Proposed Changes In New Income Tax Regime Total Income Tax Rate 0-4 Lakh Nil 4-8 Lakh 5% 8-12 Lakh 10% 12-16 Lakh 15% 16-20 Lakh 20% 20-24 Lakh 25% Above 24 Lakh 30% No Tax On Income Up To …

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