On Saturday during the budget announcement of the Union Budget 2025 that no income tax on income of up to Rs 12 Lakh. Union Finance Minister Nirmala Sitharman Said that there will be no income tax for earnings up to Rs 12 lakh, including standard deductions, under the new regime.
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Income Tax Relief Update Budget 2025
▶️ Zero Income Tax till ₹12 Lakh Income under New Tax Regime
▶️ Slabs and rates being changed across the board to benefit all tax-payers
▶️ New structure to substantially reduce taxes of middle class and leave more money in their hands, boosting household consumption, savings and investment
▶️ ‘Nil tax’ slab up to ₹12.00 lakh (₹12.75 lakh for salaried tax payers with standard deduction of ₹75,000)
Income Tax Slabs Budget 2025
In her 8th Union Budget 2025 announcement, Finance Minister Nirmala Sitharaman declared that the New Income Tax Bill would be submitted in Parliament the following week. The new income tax slabs for FY 2025–2026 undergo significant modifications.
Proposed Income Tax Slabs Budget 2025
Up to Rs 4 Lakh: Nil
Rs 4-8 lakh: 5%
Rs 8-12 lakh: 10%
Rs 12-16 lakh: 15%
Rs 16-20 lakh: 20%
Rs 20-24 lakh: 25%
Above Rs 24 lakh: 30%
Budget 2025 Highlights: Key Announcement
1) Agriculture & Rural Development
✅ Dhan Dhanya Yojana to be launched in 100 districts
✅ 6-year mission for Tur, Urad, and Masoor dal.
✅ Makhana Board to be set up in Bihar
✅ Central agencies to purchase pulses for 4 years
✅ New schemes for vegetable & fruit production with states
✅ Marine sector development initiative
✅ Self-reliance in edible oils
✅ Kisan Credit Card limit increased to ₹5 lakh
✅ Urea plant to be set up in Assam
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2) Industry & Infrastructure
✅ Special schemes for footwear & leather
✅ India to become a global toy hub
✅ 22 lakh new jobs under the Leather Scheme
✅ Launch of the National Manufacturing Mission
✅ ₹1 lakh crore fund for urban development
✅ Special scheme for ship-breaking industry
✅ More cities to be connected under ‘Udaan’
✅ New airport to be constructed in Bihar
3) Education & Research
✅ More IIT institutes to be set up
✅ 75,000 new medical seats in the next 5 years
✅ Special AI research centers to be established
✅ All government secondary schools to get broadband
✅ ₹20,000 crore investment in private sector R&D
✅ Increased focus on Indian languages in education
4) Housing & Tourism
✅ 40,000 homes under the SWAMIH scheme
✅ 52 new tourist destinations to be developed with states
✅ Buddha-related sites to be preserved & developed
5) Finance & Taxation
✅ Special credit card for small businesses
✅ UPI-linked card for small vendors
✅ UPI-linked credit card limit set at ₹30,000
✅ Easier access to funds for export promotion
✅ Interest-free funds for states to boost infra
✅ New Income Tax Bill to be introduced next week
✅ 100% FDI & FPI limit in the insurance sector
✅ Simplification of RE-KYC process
✅ TDS rates to be simplified
✅ Major tax relief for senior citizens
✅ Tax exemption limit for seniors increased to ₹1 lakh
✅ TDS exemption on rent increased to ₹6 lakh
✅ No penalty on delayed TCS payments
6) Trade & Customs
✅ New mining policy to be introduced
✅ Custom duty removed on 36 life-saving medicines
✅ Changes in custom duty on electronic goods
✅ No primary duty on lead & zinc
✅ Duty removed on crust leather
7) Biggest Announcement on Income Tax Relief
No tax on income up to ₹12 lakh.
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