Budget 2025: Tax-free income up to Rs 12 lakh sparks joy, confusion online
1 month, 3 weeks ago

Budget 2025: Tax-free income up to Rs 12 lakh sparks joy, confusion online

Deccan Chronicle  

Tirupati: Finance Minister Nirmala Sitharaman’s announcement of tax exemption on income up to Rs 12 lakh under the new tax regime has sparked widespread celebration on social media, with netizens reacting with a flood of memes. One user likened the announcement to "getting a salary hike without changing jobs," while another shared a meme of a man joyfully throwing cash in the air, captioned, "Me, after not paying tax on my Rs 12 lakh income!" If income is above Rs 12 lakh, the rebate will not be available, and tax will apply as per slab rates." Another user reflected the confusion with a meme of a puzzled Bollywood actor looking at calculations, captioned, "No tax up to Rs 12 lakh, but what happens after that?

Tax Netizens Rs 12 Lakh Lakh Income  online  lakh  income  sparks  captioned  tax  joy  2025  taxpayers  taxfree  structure  netizens  budget  12  meme  rs  confusion

History of this topic

Budget provides ‘marginal relief’ for those taxpayers whose income exceeds ₹12 lakh p.a., says Nirmala Sitharaman
Trending News
2 days, 8 hours ago

Budget provides ‘marginal relief’ for those taxpayers whose income exceeds ₹12 lakh p.a., says Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on Tuesday said the Finance Bill 2025 provides unprecedented tax relief, and the 13.14% projected growth in personal income tax collection is "realistic" and supported by solid data. Union Budget 2025: Tax bonanza for middle class In the 2025-26 Budget, the government has hiked income tax rebate to ₹12 lakh per annum from ₹7 lakh earlier. …

New Tax Regime: Income up to Rs 13.7 lakh can be tax-free. Here's how
1 month ago

New Tax Regime: Income up to Rs 13.7 lakh can be tax-free. Here's how

India Today  

Finance Minister Nirmala Sitharaman’s Budget 2025 announcement has brought some relief for salaried individuals, with the tax-free income limit now raised to Rs 12 lakh. The benefit of the Rs 75,000 standard deduction under the new tax regime effectively bumps this up to Rs 12.75 lakh. But there’s a way to push it even further to Rs 13.7 lakh by …

Earning up to Rs 12.75 lakh? Why you should opt for new income tax regime
1 month ago

Earning up to Rs 12.75 lakh? Why you should opt for new income tax regime

India Today  

Perhaps, the biggest Budget 2025 announcement by the Finance Minister Nirmala Sitharaman was that individuals with salaries up to Rs 12 lakh will pay zero taxes under the new tax regime. However, with Rs 75,000 as the standard deduction under the new regime, individuals earning up Rs 12.75 lakh annually need not pay any taxes. The Finance Minister in her …

Shashi Tharoor’s hilarious Coldplay jibe at Sitharaman’s income tax cuts: ‘Coldplay says fix you, FM says tax you’
1 month, 2 weeks ago

Shashi Tharoor’s hilarious Coldplay jibe at Sitharaman’s income tax cuts: ‘Coldplay says fix you, FM says tax you’

Live Mint  

Congress leader Shashi Tharoor took a witty dig at Finance Minister Nirmala Sitharaman’s Union Budget 2025, using a Coldplay-inspired metaphor. Known for his sharp humour, Tharoor critiqued the budget in an Instagram reel, saying, “Coldplay says ‘Fix You,’ but the Finance Minister says ‘Tax You.’” Tharoor quipped, “Even Chris Martin wouldn’t be able to find paradise in these numbers. But …

New income tax regime: Check revised tax rates, slabs, and will you benefit?
1 month, 2 weeks 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, 2 weeks 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 …

Income Tax: What is rebate under 87A which enables taxpayers earning upto ₹12 lakh to claim zero tax? An explainer
1 month, 2 weeks ago

Income Tax: What is rebate under 87A which enables taxpayers earning upto ₹12 lakh to claim zero tax? An explainer

Live Mint  

In Budget 2025, Finance Minister Nirmala Sitharaman revised the income slabs under the new tax regime, thus offering relief to the middle-class taxpayers. Now, there is no income tax payable for those earning up to ₹12 lakh. So, when there is no tax for income upto ₹12 lakh, why do these slabs suggest otherwise? These are the latest slab rates: …

Why the tax cuts are a one way gamble
1 month, 3 weeks ago

Why the tax cuts are a one way gamble

The Hindu  

It would not be an exaggeration to say that this is the biggest tax cut that the middle class has ever got in any Union Budget. Since the tax rebate has implications for both, and a lot of the plans of the 2025 Budget ride on it, this piece primarily focuses on this unprecedented fall in income tax rates. In …

When Will The New Income Tax Rates Come Into Effect?
1 month, 3 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, 3 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 …

5 key tax reforms for middle class introduced in Budget 2025
1 month, 3 weeks ago

5 key tax reforms for middle class introduced in Budget 2025

India Today  

The Union Budget 2025 presented by Finance Minister Nirmala Sitharaman on February 1, 2025, witnessed several key income tax reforms aimed especially at the middle class. REVISION OF INCOME TAX SLABS The government has proposed revisions to the tax slabs under the new regime: 0-4 lakh rupees: Nil 4-8 lakh rupees: 5% 8-12 lakh rupees: 10% 12-16 lakh rupees: 15% …

What does no income tax up to ₹12 lakh really mean? Decoding differences between tax rebate, deduction & exemption
1 month, 3 weeks ago

What does no income tax up to ₹12 lakh really mean? Decoding differences between tax rebate, deduction & exemption

Live Mint  

In the Union Budget 2025, Finance Minister Nirmala Sitharaman mentioned that the ‘nil income tax’ slab would be raised to ₹12 lakh; however, it is often misunderstood as a tax exemption or tax deduction. “To taxpayers up to Rs12 lakh of normal income tax rebate is being provided in addition to the benefit due to slab rate reduction in such …

Explained: If Income Up To Rs 12 Lakh Is Tax-Free, Why The 10 Per Cent Slab?
1 month, 3 weeks ago

Explained: If Income Up To Rs 12 Lakh Is Tax-Free, Why The 10 Per Cent Slab?

ABP News  

Finance Minister Nirmala Sitharaman has introduced several tax changes to benefit the middle class. This is why the 10 per cent tax slab remains relevant for taxpayers whose incomes exceed Rs 12 lakh. Here are the new tax slab rates: News Tax slabs Tax Rate 0-4 lakh rupees Nil 4-8 lakh rupees 5 per cent 8-12 lakh rupees 10 per …

Income up to Rs 12 lakh is tax-free, but do you know the tax-exemption limit? Find out
Trending News
1 month, 3 weeks ago

Income up to Rs 12 lakh is tax-free, but do you know the tax-exemption limit? Find out

India TV News  

Tax-free vs tax exemption: In a major relief to middle-class salaried people, Finance Minister Nirmala Sitharaman hiked the tax rebate available to individual taxpayers. In her Budget speech, the finance minister said that individuals earning up to Rs 12 lakh will pay zero tax. "One crore more people will pay no income tax due to hike in rebate to Rs …

New income tax slabs: Check how much you'll save with these simple calculations
1 month, 3 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 …

Earn over Rs 12.75 lakh? You can still pay zero tax under new regime
1 month, 3 weeks ago

Earn over Rs 12.75 lakh? You can still pay zero tax under new regime

India Today  

The new income tax regime got a major revamp in the Union Budget 2025, aimed at benefiting middle-class taxpayers. And with a standard deduction of Rs 75,000, salaried taxpayers earning up to Rs 12.75 lakh annually do not need to pay any tax. For an annual income of Rs 13.5 lakh, assuming a 50% basic salary of Rs 6.75 lakh, …

‘Taxpayers build nation they’ll drive demand,’ says FM Nirmala Sitharaman
1 month, 3 weeks ago

‘Taxpayers build nation they’ll drive demand,’ says FM Nirmala Sitharaman

Hindustan Times  

The Prime Minister Narendra Modi-led government has sought to respect the taxpayer instead of following a rent-seeking approach, finance minister Nirmala Sitharaman said on Sunday, emphasising that the huge tax relief announced in Saturday’s Union Budget was an acknowledgement of the contribution of citizens who pay their fair share towards nation-building, or, as she repeatedly stressed, a manifestation of “respect”. …

Why did government increase income tax exemption from ₹7 lakh to ₹12 lakh? FM Nirmala Sitharaman explains
1 month, 3 weeks ago

Why did government increase income tax exemption from ₹7 lakh to ₹12 lakh? FM Nirmala Sitharaman explains

Hindustan Times  

Union finance minister Nirmala Sitharaman has said the government increased the income tax exemption from ₹7 lakh to ₹12 lakh to reduce the tax burden on people earning ₹1 lakh per month. Nirmala Sitharaman added that the government was also lowering tax slab rates and widening tax brackets to give relief to taxpayers across all income levels. She added that, …

Budget 2025: Earning above ₹12 lakh? Here’s how your tax could spike—or stay in check
1 month, 3 weeks ago

Budget 2025: Earning above ₹12 lakh? Here’s how your tax could spike—or stay in check

Live Mint  

Imagine getting a salary bump, only to find that your tax bill eats up most—if not all—of your raise. Thankfully, marginal relief has your back, ensuring that small increases in income don’t result in a huge spike in tax outgo. View Full Image Marginal relief ensures that the maximum tax outgo on income that marginally exceeds ₹ 12 lakh is …

No income tax up to Rs 12 lakh: What it means if you earn more
1 month, 3 weeks ago

No income tax up to Rs 12 lakh: What it means if you earn more

Firstpost  

In a major relief for the middle class, Finance Minister Nirmala Sitharaman announced that individuals earning up to Rs 12 lakh will no longer have to pay income tax. FM Sitharaman increased the exemption threshold from Rs 7 lakh to Rs 12 lakh in the new income tax regime. Pixabay/Representational Image Union Finance Minister Nirmala Sitharaman has delivered a massive …

’PM Modi was very clear...’: What FM Nirmala Sitharaman said on income tax relief up to ₹12 lakh
Top News
1 month, 3 weeks ago

’PM Modi was very clear...’: What FM Nirmala Sitharaman said on income tax relief up to ₹12 lakh

Live Mint  

Nirmala Sitharaman announced a major overhaul of the income tax system while outlining the Budget on Saturday. Individuals earning up to ₹12 lakh annually will no longer have to pay any tax under the new income tax regime — with benefit of ₹80,000. Sitharaman announced on Saturday that there would be “no income tax payable up to income of ₹12 …

Budget 2025: Taxpayers with income of up to Rs 13.25 lakh, not Rs 12 lakh, can pay nil taxes. Here’s how
1 month, 3 weeks ago

Budget 2025: Taxpayers with income of up to Rs 13.25 lakh, not Rs 12 lakh, can pay nil taxes. Here’s how

Firstpost  

By claiming two deductions, an individual with a gross salary of Rs 13,25,000 can bring their net taxable income down to Rs 12 lakh, making them eligible for the full tax rebate under Section 87A Claiming standard deduction and deduction for NPS contribution can reduce net taxable income to Rs 12 lakh for the taxpayers earning more. Pixabay In her …

Budget 2025: You will have to pay taxes despite income below Rs 12 lakh if...
1 month, 3 weeks ago

Budget 2025: You will have to pay taxes despite income below Rs 12 lakh if...

Firstpost  

Income taxed at special rates, such capital gains made through investments in stocks, including short-term and long term capital gains under Section 111A and Section 112, respectively, cannot be offset by the rebate Budget 2025 proposes great relief to taxpayers earning up to Rs 12 lakh annually by offering rebates under Section 87A such that their tax liability becomes nil. …

Tax axe budget prods people to spend more
1 month, 3 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 …

Economy to get fillip with tax cut
1 month, 3 weeks ago

Economy to get fillip with tax cut

New Indian Express  

For a middle-class that is struggling with tight cash flows and higher taxes, the finance minister has come with a bunch of measures that put more money into their pockets. The introduction of enhanced slabs, lower tax rates, higher threshold for TDS and TCS transaction and measures to cut complexity around KYC compliance are set to bring considerable cheer to …

Fresh slabs may prompt over 90% taxpayers to choose new regime: Tax body chief
1 month, 3 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, …

No income tax upto Rs 12 lakh: Social media sparks meme frenzy after Budget 2025, netizens in celebration mode
1 month, 3 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 …

PM quickly got behind tax cut, bureaucrats took convincing: Finance Minister
1 month, 3 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 …

Watch: Budget 2025 round-up: Bonanza for the middle class
1 month, 3 weeks ago

Watch: Budget 2025 round-up: Bonanza for the middle class

The Hindu  

Ahead of the Budget, there was an expectation that the government would provide some relief for the middle class, which has been stuck in a rut lately. FM Nirmala Sitharaman delivered a big announcement for this class -- in her Budget speech, she announced that there would be no income tax for incomes up to ₹12 lakh. The Finance Minister …

No income tax for annual income upto Rs 12 lakh in New Tax Regime
1 month, 3 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 …

Budget 2025 | No tax for incomes up to ₹12 lakh
Top News
1 month, 3 weeks ago

Budget 2025 | No tax for incomes up to ₹12 lakh

The Hindu  

With an objective to boost household consumption and aggregate demand, Finance Minister Nirmala Sitharaman announced on Saturday that incomes up to ₹12 lakh would draw no income tax. To boost consumption, savings and investment Explaining the rationale for the revision in taxation limit, the Minister said the new structure would substantially reduce taxes for the middle class and provide more …

Tax Cuts In Budget 2025 Will Help You Save More, But Don’t Forget To Secure The Money
1 month, 3 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, 3 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 …

One crore more people will pay no income tax due to hike in rebate to Rs 12 lakh: FM
1 month, 3 weeks ago

One crore more people will pay no income tax due to hike in rebate to Rs 12 lakh: FM

Firstpost  

The government has put “substantial amount of money” in hands of people through rejig of I-T slabs in the Budget and an additional 1 crore people will pay no tax due to hike in tax rebate to Rs 12 lakh per annum, Finance Minister Nirmala Sitharaman said on Saturday The government has put “substantial amount of money” in hands of …

No tax on income of up to ₹12 lakh | All your questions answered
1 month, 3 weeks ago

No tax on income of up to ₹12 lakh | All your questions answered

Hindustan Times  

Budget 2025: In a major relief to the middle class in India, Union finance minister Nirmala Sitharaman on Saturday announced that no income tax will be payable on income up to ₹12 lakh. "I am now happy to announce that there will be no income tax payable up to income of ₹12 lakh under the new regime," the finance minister …

Budget 2025: Will income tax slab change impact your take-home salary? 5 things employees must know
1 month, 3 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, 3 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, 3 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 …

Budget 2025: No income tax upto ₹12 lakh income. Here’s how much you will save
Top News
1 month, 3 weeks ago

Budget 2025: No income tax upto ₹12 lakh income. Here’s how much you will save

Live Mint  

Union Finance Minister Nirmala Sitharaman on Budget 2025 announced that there will be no income tax on income upto ₹12 lakh. Salaried taxpayers are now entitled to claim standard deduction of ₹75,000 which means even if their income is upto ₹12.75 lakh, they wont have to pay any income tax. Let us understand how this happens: Income Tax For income …

New income tax slabs: How much will you the taxpayer save, end up paying, explained
1 month, 3 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 …

Why Budget 2025 has suddenly heeded to the harassed middle-class salaried taxpayer
1 month, 3 weeks ago

Why Budget 2025 has suddenly heeded to the harassed middle-class salaried taxpayer

Live Mint  

In a big announcement for the middle class during her budget speech, Union Finance Minister Nirmala Sitharaman gladdened the hearts of the influential if numerically smaller, white-collar class, a day after PM Narendra Modi’s invoked goddess Lakshmi’s special blessings for them. There will be no income tax payable up to ₹12 lakh--or up to ₹12.75 lakh, including standard deductions for …

’Ye jo hawa chali hui hai…’: Entrepreneur decodes income tax relief up to ₹12 lakh in Budget 2025
1 month, 3 weeks ago

’Ye jo hawa chali hui hai…’: Entrepreneur decodes income tax relief up to ₹12 lakh in Budget 2025

Live Mint  

Finance Minister Nirmala Sitharaman announced a major overhaul of the income tax system on Saturday with changes to the exemption limits. Individuals earning up to ₹12 lakh annually will no longer have to pay any tax under the new income tax regime other than special rate income such as capital gains. The fintech startup founder went on to remind that …

No Income Tax Up to Rs 12 lakh: Memes Galore on Social Media After Budget 2025
1 month, 3 weeks ago

No Income Tax Up to Rs 12 lakh: Memes Galore on Social Media After Budget 2025

Deccan Chronicle  

Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 on Saturday and said the Budget will initiate reforms in six areas of taxation, urban development, mining, financial sector, power, and regulatory framework. Presenting her eighth straight budget, Sitharaman announced that annual income of up to Rs 12 lakh will be exempt from I-T under the new income tax regime. Here …

Budget 2025: Relief for taxpayers to simplified TDS, 10 major Income Tax announcements by FM Nirmala Sitharaman
1 month, 3 weeks ago

Budget 2025: Relief for taxpayers to simplified TDS, 10 major Income Tax announcements by FM Nirmala Sitharaman

Live Mint  

Budget 2025 Finance Minister Nirmala Sitharaman presented the union budget in Parliament on Saturday, with steps aimed to woo the salaried middle class with tax cuts. Key income tax announcements from the Budget 2025 1)No income tax on annual income up to ₹ 12.75 lakh The government has raised the Section 87A rebate limit from ₹7 lakh to ₹12 lakh, …

Budget 2025: One reason Sitharaman can afford to give income tax benefits
1 month, 3 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, 3 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, 3 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, 3 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 …

Revised Income Tax Slabs: How much money will you save in the new regime post Budget 2025? Here’s the math
1 month, 3 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 …

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