1 day ago · Latest Income Tax Slabs, Rates In Budget 2025: As widely expected, Finance Minister Nirmala Sitharaman on Saturday announced huge income tax relaxations in the first full Budget of the Modi 3.0 government.Income up to Rs 12 lakh of normal income, other than capital gains income, is tax free. Here are the latest slabs and rates of income tax under the new tax regime for the financial year 2025 ...

1 day ago · India Business News: Budget 2025 saw major income tax changes with FM Nirmala Sitharaman announcing new income tax slabs and income tax rates for FY 2025-26. Middle class

18 hours ago · The new tax regime proposed in Budget – with a tax rebate of Rs 60,000 on income up to Rs 12 lakh (and Rs 12.75 lakh for salaried people) – leaves the old tax regime, with three slabs of 5% ...

1 day ago · According to Finance Minister Nirmala Sitharaman, the income tax rebate under the new tax regime has been raised, allowing resident individuals with total income up to Rs 12,00,000 to pay no tax.

1 day ago · Under the Budget 2025 proposal, effective from AY 2026-27, Section 87A has been revised for resident individuals under the default tax regime, increasing the rebate limit from ₹ 7 lakh to ₹ 12 ...

2 days ago · Budget 2024 has increased the standard deduction under the new tax regime to ₹ 75,000. The family pension deduction has also been increased from ₹ 15,000 to ₹ 25,000. With the revised tax structure the taxpayer will save ₹17,500.

With the upcoming Budget 2025, there are many expectations for changes in tax slabs to further adjust for current economic conditions. 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).

Jul 23, 2024 · In the Union Budget 2024 presented by Finance Minister Nirmala Sitharaman on Tuesday, lower tax rates have been introduced under the new tax regime (NTR), indicating that the old tax...

Jul 25, 2024 · We take a look at 10 tables sourced from EY to help you understand the new income tax changes and what they mean for taxpayers at various salary levels: Latest Income Tax Slabs FY 2024-25 Under Revised New Tax Regime: FM Nirmala Sitharaman raised the standard deduction limit under the new tax regime to Rs 75,000 from the earlier limit of Rs 50,000.

18 hours ago · The new income tax slabs under the new tax regime proposed in Budget 2025 - with a tax rebate of Rs 60,000 on income up to Rs 12 lakh (and Rs 12.75 lakh for salaried people) under Section 87A - leaves the old tax regime, with three slabs of …