The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income above Rs 15 lakh. However, the new tax regime offers limited deductions to taxpayers.

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

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.

The budget announcement has come as a big relief for taxpayers, especially the middle class, as this will significantly reduce the financial burden on this income group.

Budget 2025 has made income up to ₹12 lakh effectively tax-free under the new tax regime. The Finance Minister increased the no-tax limit from ₹7 lakh to ₹12 lakh and introduced revised tax slabs. The government expects its revenue from income tax to increase 14.

Indian Prime Minister Narendra Modi’s government has presented an annual budget that focuses on wooing the salaried middle class with tax cuts and spurring economic growth by boosting agriculture and

India plans to cut personal income tax rates to boost middle-class spending power, Finance Minister Nirmala Sitharaman said on Saturday, as she announced an annual budget that also sought to increase private investment to strengthen growth.

The Union Budget 2025 brought a groundbreaking announcement—income up to Rs 12.75 lakh will now be tax-free under the new tax regime. This major tax relief has sparked widespread reactions, with Shaadi.

Prime Minister Narendra Modi hailed the Union Budget 2025 and said that tax relief given by Finance Minister Nirmala Sitharaman will provide big benefits to middle class and salaried employees.