Budget 2025: New Income Tax Slabs Announced - No Income Tax Till Rs. 12 Lakhs, Big Savings for Salaried and Middle-Class Taxpayers
February 1, 2025: New Delhi: In her Union Budget 2025 presentation, Finance Minister Nirmala Sitharaman unveiled a revamped tax regime, offering significant relief to middle-class taxpayers. The changes include revised tax slabs and increased savings for salaried individuals through the standard deduction benefit.
Also Read: Budget 2025: What’s Cheaper, What’s Costlier? A Detailed Breakdown of Price Changes
Under the new regime, individuals earning up to ₹12 lakh annually pay zero tax, thanks to the inclusion of a ₹75,000 standard deduction. Here are a few illustrative examples of tax savings under the revised structure:
Finance Minister Sitharaman emphasized the government’s commitment to reducing the tax burden for the middle class. “The middle class remains a pillar of India’s growth. In recognition of their contributions, we have periodically revised the tax structure to alleviate their financial burden,” she stated.
The refreshed tax slabs aim to increase disposable income, thereby boosting consumption and investment—a critical step towards achieving the government’s vision of “Viksit Bharat.”
Budget 2025, New Income Tax Slabs, Middle-Class Savings, Nirmala Sitharaman, Standard Deduction, Taxpayer Relief, Economic Growth, Union Budget Reforms.
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