- Explore key expectations for Income Tax reforms in Budget 2025, including changes to Section 80D, home loan interest deductions, tax slabs, and corporate tax rates to boost growth and consumption.Learn more:Explore key expectations for Income Tax reforms in Budget 2025, including changes to Section 80D, home loan interest deductions, tax slabs, and corporate tax rates to boost growth and consumption.cleartax.in/s/budget-2025-expectations-income-taxThe new tax regime, introduced under Section 115BAC of the Income Tax Act, 1961, was designed to simplify taxation with reduced tax rates. However, it comes at the cost of fewer exemptions and deductions, making it a better option for taxpayers who do not invest heavily in tax-saving schemes.www.financialexpress.com/budget/budget-2025-ne…During her Budget speech, Finance Minister Nirmala Sitharaman has announced revised tax slabs and rates under the new regime to reduce the burden for all taxpayers. There will be no tax burden on up to Rs 12 lakh annual income, except special income.www.ndtv.com/business-news/budget-2025-slabs-r…The Budget 2024 introduced significant changes to the tax slabs under the New Tax Regime, which will be applicable for FY 2024-25 (AY 2025-26). Taxpayers can now benefit from revised tax slabs, along with an increased standard deduction and an enhanced family pension deduction.cleartax.in/s/income-tax-slabs
Under the new tax regime, the finance minister proposed a revised tax structure, which is as follows:
- 0-4 lakh rupees: Nil
- 4-8 lakh rupees: 5 per cent
- 8-12 lakh rupees: 10 per cent
- 12-16 lakh rupees: 15 per cent
- 16-20 lakh rupees: 20 per cent
- 20-24 lakh rupees: 25 per cent
- Above 24 lakh rupees: 30 per cent.
www.hindustantimes.com/india-news/new-income-t… Goa CM on Zero Tax on Income Upto Rs 12 Lakh in Budget 2025
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