Budget 2025: No tax on income up to Rs 12 lakh
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New Delhi (Team Newsbuddy): Union Finance Minister Nirmala Sitharaman presented Budget 2025 in the Lok Sabha on Saturday. She said that in the new tax regime, no tax will be levied on income up to Rs 12 lakh.
Meaning, now with a standard deduction of Rs 75,000, the income of Rs 12.75 lakh of the salaried class will become tax free.
Rs 2.5 lakh tax free in 2014
Rs 5 lakh tax free in 2019
Rs 7 lakh tax free in 2023
Rs 12 lakh taxi free in 2025
This means that all types of income tax payers got benefit in tax slabs.
