Income Tax Slabs Budget 2025 Highlights: No income tax up to Rs 12 lakh income! Save up to Rs 1.1 lakh with 30% tax slab on income above Rs 24 lakh - big income tax relief for middle class

Latest Income Tax Slabs Budget 2025 Live Updates: Finance Minister Nirmala Sitharaman in her Union Budget 2025 speech announced sweeping changes in personal income tax, with major revamp of income tax slabs and income tax rates under the new income tax regime. Finance Minister Nirmala Sitharaman in her Union Budget 2025 speech also announced that she will introduce the New Income Tax Bill in Parliament next week.What are the income tax slabs and income tax rates for financial year 2025-26 after Union Budget 2025? Check New versus Old Tax Regime ComparisonLatest Income Tax Slabs under new tax regime: What are the new income tax rates?Rs 0-4 lakh - NilRs 4-8 lakh- 5%Rs 8-12 lakhs- 10%Rs 12-16 lakhs- 15%Rs 16-20 lakhs-20%Rs 20-24 lakhs - 25%Above Rs 24 lakh- 30%Latest Income Tax Slabs under old tax regime: What are the income tax rates?No changes have come under the old income tax regimeAnnual earnings up to Rs 2,50,000 are exempt from taxation5% tax applies on earnings between Rs 2,50,001 and Rs 5,00,00020% tax rate for income range of Rs 5,00,001 to Rs 10,00,000Earnings exceeding Rs 10,00,000 are taxed at 30%Ahead of Budget 2025, PM Narendra Modi invoked goddess Lakshmi and sought her blessings for the poor and the middle class in India. PM Modi’s words have sparked speculation that Union Budget 2025 may bring some cheer to the middle class taxpayers. Track TOI’s Income Tax Budget 2025 live coverage to know what FM Nirmala Sitharaman announced for salaried and individual taxpayers.