New Delhi: Union Finance Minister Nirmala Sitharaman, while presenting Budget 2025 in Parliament announced a big relief for the middle class people, reports Dynamite News correspondent.
She declared that there will be no income tax upto the income of Rs 12 lakh per year.
Budget 2025: No tax on income upto Rs 12 lakh; 15% tax between Rs 12-15; 20% tax on Rs 15-20 lakh; 25% on 20-25 lakh; 30% on income of above 25 lakh – Nirmala Sitharaman#BudgetSession #BudgetSession2025 #budget2025@nsitharaman @FinMinIndia pic.twitter.com/hlacxc8F1s
— Dynamite News (@DynamiteNews_) February 1, 2025
New Income Tax Slab
Here’s how the new income tax slabs look like now:
Rs 0-12 lakh — Nil
Rs 12-15 lakh — 15%
Rs 15-20 lakh — 20%
Rs 20-25 lakh — 25%
Rs 25+ lakh — 30%