Income Tax Slabs for FY 2025-26 (AY 2026-27) The Budget 2025 proposed new tax slab rates under section 115BAC i.e., the New Tax Regime or the Default Tax Regime. This was to ensure that individuals save more and increase their spending capacity. These revised tax slab rates will be applicable for income earned in FY 2025-26 onwards. The new ...
New Income Tax Slabs: Union finance minister Nirmala Sitharaman on Saturday presented the Union Budget 2025-2026 in the Parliament and introduced a massive relief for income tax payers. New Income ...
While presenting the Union Budget 2025, Finance Minister Nirmala Sitharaman modified the income tax slabs as a part of the new tax system. For the upcoming financial year 2025–2026, the new income tax slabs as per the new tax regime will effectively apply from April 1, 2025. Under the new tax system, the income tax slabs have been through a radical transformation. In this article, we will ...
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.
Budget 2025 – New Income Tax Slab Rates For 2025-26 / AY 2026-27 (www.basunivesh.com) Old Tax Regime: Income Slab: Individuals (Aged below 60 Yrs) Senior Citizens (Aged 60 Yrs and above but below 80 Yrs) Super Senior Citizens (Aged 80 Yrs and above) Up to Rs.2,50,000: Nil: Nil: Nil:
The Union Budget 2025 has made a few changes to tax policies, clarifying the taxation of Unit Linked Insurance Plans (ULIPs). Finance Minister Nirmala Sitharaman, in her Budget speech on Saturday, announced that from April 1, 2026, ULIPs with annual premiums exceeding ₹2.5 lakh will no longer be exempt from tax under Section 10(10D) of the Income Tax Act, 1961.
Summary: Budget 2025 introduces significant changes to income tax slabs under the new tax regime for individuals. Key highlights include tax-free income up to ₹4,00,000, and progressive tax rates ranging from 5% to 30% for higher income brackets. Notably, the rebate limit for resident individuals has increased from ₹7,00,000 to ₹12,00,000, allowing tax-free income up to ₹12,75,000 for ...
The Union Budget 2025 brings substantial tax relief to individuals earning up to ₹12 lakh, making them effectively tax-free. The revised tax slabs, enhanced Section 87A rebate , and marginal relief provisions significantly benefit the middle class while simplifying compliance for taxpayers and businesses.
The Union Budget has made significant adjustments, including raising the cap of Rebates under Section 87A and drastically raising the slab rates under the new system. Except for special rate ...
Finance Minister Nirmala Sitharaman, in her Budget speech, announced new income tax slabs under the revised tax regime, ensuring that individuals earning up to ₹12 lakh will not have to pay any income tax. ... What are the revised income tax slabs for FY 2025-26 under the new tax regime? The government has introduced revamped tax slabs for ...
Income Tax Slabs/Rates Budget 2025 LIVE Updates: Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget 2025 in Parliament. This will be FM Sitharaman’s eighth consecutive Budget presentation with the Lok Sabha session commencing at 11 am today. FM Sitharaman announced that no income tax will be due for those with annual ...
Budget 2025 income tax: Budget 2025 introduces key personal tax reforms focusing on Viksit Bharat. Amendments include a new income-tax bill, revised income tax slabs, and increased rebate ...
The Budget 2025 is set to introduce significant changes to the income tax slabs, particularly benefiting the middle class. Currently, the new tax regime features slabs where income up to ₹3 lakh ...
The tax slabs under the new regime have been revised in Budget 2025. A salaried individual will pay zero tax for annual income up to Rs 4 lakh. In the Rs 4 lakh - to Rs 8 lakh bracket, 5 per cent ...
In the Budget 2025, the Finance Minister hiked the tax rebate available to individual taxpayers to Rs 12 lakh from the next fiscal, from Rs 7 lakh currently. The Budget has revised the tax slabs for computing tax liability on income earned in 2025-26 for those with income of more than Rs 12 lakh and filing ITR under the new tax regime.
The income tax slabs for FY 2025-26 under the old income tax regime continue to be the same – Annual earnings up to ₹ 2,50,000 are exempt from taxation; 5% tax applies on earnings between ₹ 2,50,001 and ₹ 5,00,000; 20% tax rate for income range of ₹ 5,00,001 to ₹ 10,00,000; Earnings exceeding ₹ 10,00,000 are taxed at 30%; Income ...
In Budget 2025, Finance Minister Nirmala Sitharaman raised the nil tax slab to Rs 12 lakh and introduced new tax slabs. Senior citizens also get higher tax deductions, bringing major relief to ...
