Highlights | New Income Tax Slabs 2025-26: No income tax till income up to Rs 12 lakh in new tax regime, says FM Nirmala Sitharaman; tax slabs revised; Finance Bill will be introduced next week
Income Tax Slabs Budget 2025 Highlights: Finance Minister Nirmala Sitharaman says that there will be no income tax for taxpayers up to the income of Rs 12 lakh in the new tax regime. She also revised tax slabs for tne new tax regime. There was no change for old regime taxpayers.
Budget 2025 Income Tax Slabs 2025-26 Highlights: Finance Minister Nirmala Sitharaman says that there will be no income tax for taxpayers up to the income of Rs 12 lakh in the new tax regime. After the cabinet approved Budget 2025, Finance Minister Nirmala Sitharaman has started her Budget 2025 (for FY2025-26) (Saturday, February, 1, 2025) speech. It is her record 8th consecutive budget, which also includes an interim budget last year. During her budget speech, a majority of salaried class taxpayers will be keenly watching if she makes favourable changes in tax slabs in old and new tax regimes. In her previous budget presentation (Budget 2024) in July, Sitharaman had increased the numbers of tax slabs to 6 in the new tax regime.
Revised Income Tax Slabs Budget 2025
Here are the revised rates after this development.
Nil tax in the new regime on income up to Rs 0-4 lakh
5% tax in the new regime on income up to Rs 4-8 lakh
10% tax in the new regime on income up to Rs 8-12 lakh
15% tax in the new regime on income up to Rs 12-16 lakh
20% tax in the new regime on income up to Rs 16-20 lakh
25% tax in the new regime on income up to Rs 20-24 lakh
30% tax in the new regime on income above Rs 24 lakh
What did Nirmala Sitharaman say?
Finance Minister Nirmala Sitharaman says that a taxpayer in the new regime with an income of Rs 12 lakh will get a benefit of Rs 80,000 in tax. A person having income of Rs 18 lakh will get a benefit of Rs 70,000 in tax. "A person with an income of Rs 25 lakh gets a benefit of Rs 1.10 lakh. For salaried employees, this nil tax limit will be Rs 12.75 lakh per annum, after taking into account a standard deduction of Rs 75,000."
We will give you the latest updates of Income Tax 2025 related developments for Budget 2025. Stay tuned with us for more information
Budget 2025 Income Tax Slabs 2025-26 Highlights: Finance Minister Nirmala Sitharaman says that there will be no income tax for taxpayers up to the income of Rs 12 lakh in the new tax regime. After the cabinet approved Budget 2025, Finance Minister Nirmala Sitharaman has started her Budget 2025 (for FY2025-26) (Saturday, February, 1, 2025) speech. It is her record 8th consecutive budget, which also includes an interim budget last year. During her budget speech, a majority of salaried class taxpayers will be keenly watching if she makes favourable changes in tax slabs in old and new tax regimes. In her previous budget presentation (Budget 2024) in July, Sitharaman had increased the numbers of tax slabs to 6 in the new tax regime.
Revised Income Tax Slabs Budget 2025
Here are the revised rates after this development.
Nil tax in the new regime on income up to Rs 0-4 lakh
5% tax in the new regime on income up to Rs 4-8 lakh
10% tax in the new regime on income up to Rs 8-12 lakh
15% tax in the new regime on income up to Rs 12-16 lakh
20% tax in the new regime on income up to Rs 16-20 lakh
25% tax in the new regime on income up to Rs 20-24 lakh
30% tax in the new regime on income above Rs 24 lakh
What did Nirmala Sitharaman say?
Finance Minister Nirmala Sitharaman says that a taxpayer in the new regime with an income of Rs 12 lakh will get a benefit of Rs 80,000 in tax. A person having income of Rs 18 lakh will get a benefit of Rs 70,000 in tax. "A person with an income of Rs 25 lakh gets a benefit of Rs 1.10 lakh. For salaried employees, this nil tax limit will be Rs 12.75 lakh per annum, after taking into account a standard deduction of Rs 75,000."
We will give you the latest updates of Income Tax 2025 related developments for Budget 2025. Stay tuned with us for more information
Latest Updates
Income Tax Slabs 2025 LIVE: New tax regime slabs revised; see old and revised list
After the Finance Minister's announcement, the new tax regime income tax slabs have been revised. See the new list and the old list-
Here are the revised rates after this development.
Nil tax in the new regime on income up to Rs 0-4 lakh
5% tax in the new regime on income up to Rs 4-8 lakh
10% tax in the new regime on income up to Rs 8-12 lakh
15% tax in the new regime on income up to Rs 12-16 lakh
20% tax in the new regime on income up to Rs 16-20 lakh
25% tax in the new regime on income up to Rs 20-24 lakh
30% tax in the new regime on income above Rs 24 lakh
Tax slabs before revision
For income 0-Rs 3 lakh
There was no income tax.
For income Rs 3 lakh-Rs 7 lakh
The tax rate was 5 per cent
For income Rs 7 lakh-Rs 10 lakh
The tax rate was 10 per cent
For income Rs 10 lakh-Rs 12 lakh
The tax rate was 15 per cent
For income Rs 12 lakh-Rs 15 lakh
The tax rate was 20 per cent
For income Rs 15 lakh+
The tax rate was 30 per cent
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