Income tax

2025 - 2 - 1

Is India Becoming a Tax Paradise? All You Need to Know About the New Tax Slabs!

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Discover how India's new tax regime can save you big bucks! Find out everything about the budget changes and who gets to enjoy tax-free bliss!

India's finance minister, Nirmala Sitharaman, has unveiled some major changes to the income tax structure for the financial year 2025-26, and it feels like Christmas came early for salaried individuals! If you're earning up to Rs 12 lakh, you can breathe a sigh of relief because the new income tax slabs promise no tax obligations for you. That’s right—zero! Thanks to the increased rebate under Section 87A, those earning a gross annual income of up to Rs 12.75 lakh will get to enjoy a tax-free ride. Imagine what you can do with those extra lakhs in hand!

But it's not just the lower-income earners who are smiling. The new budget is designed to sprinkle a bit of financial joy on the middle class and potentially beyond. The relief isn't just for the low earners either, as individuals making even higher incomes above Rs 15 lakh will see a significant reduction in their tax rates. Notably, the government aims to enhance its 'trust first, scrutinize later' philosophy—everyone likes a little tax leniency, don’t they? Just think of it as a wink from the taxman!

Now, let's talk confusion: with all these changes, many taxpayers are scratching their heads, wondering which route to take—the old or the new tax regime. While the allure of tax-free income sounds irresistible, it's essential to weigh both options carefully. Are you a tax-saver who relies on investments to maximize returns? Or do you prefer that sweet, sweet freedom of spending? The answer could hinge on your financial habits. After all, who needs a penny saved when you have a whole rupee to invest in your cozy chai corner?

As we gear up for the final details to be ironed out in Parliament, let's keep an eye on the upcoming discussions surrounding investment and savings schemes that might link back to our beloved tax regime. More importantly, did you know that India's tax system has evolved dramatically since independence? India was once on the list of the highest tax-inhabiting countries, but the pendulum has swung back, making tax time less about grimacing and more about grinning! Imagine gifting your accountant a box of sweets instead of a serious look at tax liability!

In conclusion, while the Nirmala Sitharaman edition of the budget might leave some financial heads spinning, there’s a glimmer of hope out there for salaried individuals. The new structure is an attempt to grant middle-class taxpayers some respite from the tax burden. With these changes, it seems the Indian government is making deliberate strides towards a more taxpayer-friendly environment, where enjoying life and managing finances can go hand in hand!

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Image courtesy of "Economic Times"

Calculation of income tax on Rs 12.5 lakh for salaried: Here's how ... (Economic Times)

Under the new regime, the tax liability for individuals earning Rs 12 lakh or Rs 12.75 lakh (for salaried persons) is Rs 60000, which is completely waived ...

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Image courtesy of "Livemint"

Income Tax Budget 2025 LIVE: No income tax for upto income of ... (Livemint)

The government will introduce a new Income Tax bill next week to take forward the "trust first, scrutinise later" concept, Finance Minister Nirmala Sitharaman ...

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Image courtesy of "Upstox"

Income-tax calculator 2025-26 for salaried: Tax on ₹12.75 lakh to ... (Upstox)

Salary income-tax calculator for FY 2025-26: Take a look at tax liability for salary income of ₹12.75 lakh to ₹1 crore as per the revised tax slabs of new ...

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Image courtesy of "The Hindu"

New income tax slabs FY 2025-26 in Union Budget 2025 (The Hindu)

New tax slabs announced in Union Budget 2025, offering relief to middle class with tax-exemption up to ₹12 lakh.

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Image courtesy of "Financial Express"

Tax Slab explainer: A guide to how new income tax will be calculated (Financial Express)

New Tax Regime Slabs 2025 for Salaried Employees: As per the updated structure, individuals earning up to Rs 12 lakh per annum will not have to pay any ...

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Image courtesy of "NDTV Profit"

Revised Income Tax Slabs, Old Regime vs New Regime? Top ... (NDTV Profit)

The highlight of Finance Minister Nirmala Sitharaman's eighth consecutive Budget is the relief to middle-class taxpayers from the salaried class.

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Image courtesy of "The Indian Express"

New Income Tax Slabs Explained: What does the Rs 12 lakh I-T ... (The Indian Express)

Income Tax Budget 2025 Explained: The FM has provided significant savings for even those earning above Rs 15 lakh by way of sharp cut in tax rates for ...

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Image courtesy of "दैनिक भास्कर"

बजट 2025- इनकम टैक्स: 12 लाख तक इनकम पर 60 हजार फायदा; नई टैक्स ... (दैनिक भास्कर)

बजट में इनकम टैक्स को लेकर बड़ी राहत दी गई है। न्यू टैक्स रिजीम के तहत अब 12 लाख रुपए तक की कमाई पर कोई टैक्स नहीं देना होगा ...

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Image courtesy of "ఆంధ్రజ్యోతి"

Income tax : వచ్చే వారమే కొత్త ఆదాయపన్ను బిల్లు! (ఆంధ్రజ్యోతి)

కొత్త ఆదాయపన్ను బిల్లును వచ్చే వారమే పార్లమెంటులో ప్రవేశ పెట్టనున్నట్టు కేంద్ర ఆర్థిక శాఖ మంత్రి నిర్మలా సీతారామన్‌ తెలిపారు.

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Image courtesy of "Jansatta"

Budget 2025: 12 लाख तक की इनकम पर टैक्स में छूट से क्या होगा फायदा ... (Jansatta)

Budget 2025: वित्तीय बजट 2025-26 को लेकर आज केंद्रीय वित्त मंत्री निर्मला सीतारमण ने इनकम टैक्स को लेकर बड़ा ऐलान किया है, ...

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Image courtesy of "The Economic Times"

New Income Tax Slabs FY25-26 Live Updates: Budget 2025 ... (The Economic Times)

For salaried individuals opting for the new tax regime, income of up to Rs 12,75,000 will be tax-free. Section 87A rebate has been increased to 60,000. FM ...

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Image courtesy of "Hindustan Times"

Confused about new income tax rebate till ₹12 lakh? New slabs ... (Hindustan Times)

The income tax rebate in Budget 2025 has caused some confusion, especially since income tax slabs still show taxes for income brackets from ₹0 to ₹12 ...

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Image courtesy of "Economic Times"

Income tax highlights of Budget 2025: Lakshmi blesses middle class ... (Economic Times)

With a promise to further simplify the current tax law by introducing a new Income-tax Bill next week, the taxpayer-friendly Budget included key changes in ...

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Image courtesy of "Namasthe Telangana"

Income Tax | 12,75000 వార్షిక ఆదాయం వరకు పన్ను లేదు.. వేతన జీవులకు ... (Namasthe Telangana)

కేంద్ర బడ్జెట్‌లో ఆదాయ పన్ను (ఐటీ) విధానాన్ని మరింత కొత్తగా తీసుకొచ్చారు. రేట్లు, శ్లాబులను సవరిస్తూ గతంతో పోల్చితే ఓ శ్లాబును పెంచి మొత్తం ...

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Image courtesy of "TV9 Telugu"

Income Tax: రూ.12 లక్షల ఆదాయం ఉన్నా పన్ను కట్టాల్సిందే.. కొత్తగా ... (TV9 Telugu)

Income Tax: కేంద్ర ఆర్థిక మంత్రి నిర్మలా సీతారామన్ 2025-26 ఆర్థిక సంవత్సరానికి బడ్జెట్‌ను ఫిబ్రవరి 1, 2025న సమర్పించారు.

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Image courtesy of "Economic Times"

87A rebate will fail to make your tax nil despite income below Rs 12 ... (Economic Times)

Budget 2025: No Section 87A tax rebate on special rate incomes like short term capital gains, long term capital gains, and others, said Budget 2025.

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Image courtesy of "The Indian Express"

Budget 2025: How sweet is the sweetened New Tax Regime (The Indian Express)

Union Budget 2025: Apart from zero tax for about a crore people earning Rs 12 lakh a year, slabs also recast to benefit those in higher salary brackets.

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Image courtesy of "Financial Express"

'India income tax-free?', Anupam Mittal criticises 12 lakh tax ... (Financial Express)

The Union Budget for 2025-26, presented by Finance Minister Nirmala Sitharaman, introduced significant changes to India's tax slabs.

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Image courtesy of "Economic Times"

New vs old tax regime: Which income tax regime to choose, what ... (Economic Times)

The finance ministry has long favoured delinking investment and savings schemes from income tax liability so taxpayers can make an independent and informed ...

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Image courtesy of "ABP News"

New Income Tax Slab Explain: 12 लाख तक कोई टैक्स नहीं...फिर ये 4 से ... (ABP News)

New Income Tax Slab Explain: जब सालाना 12 लाख के आय पर कोई टैक्स नहीं है तो फिर 4 से 8 लाख पर 5 फीसदी टैक्स और 8 से 12 लाख के इनकम ...

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Image courtesy of "The Economic Times"

New income tax slabs in Budget 2025: 30% tax now starts at Rs 24 ... (The Economic Times)

Income tax slab changes: The new tax regime is the default tax regime. The highest tax rate of 30% is applicable from net taxable income above Rs 15 lakh.

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Image courtesy of "Rajasthan Tak"

Income Tax: अब करीब 1 करोड़ लोगों को नहीं देना होगा टैक्स... (Rajasthan Tak)

वित्त मंत्री निर्मला सीतारमण ने बजट में घोषणा की है कि ₹12 लाख तक आमदनी वालों को इनकम टैक्स नहीं देना होगा. अगर आप सैलरी वाले हैं तो ...

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Image courtesy of "India Today"

Zero tax up to Rs 12.75 lakh in new regime. Is old regime still useful? (India Today)

Budget 2025: The increase in the tax exemption limit to Rs 12 lakh results in. For most taxpayers, the new regime is now the more attractive option.

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Image courtesy of "नवभारत टाइम्स"

नया इनकम टैक्स कानून आएगा तो बजट में स्लैब बदलने की क्या जरूरत ... (नवभारत टाइम्स)

वित्त मंत्री निर्मला सीतारमण ने शनिवार को फाइनेंशियल ईयर 2025-26 का बजट पेश किया। उन्होंने इस दौरान इनकम टैक्स के मौजूदा स्लैब में ...

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Image courtesy of "Livemint"

Budget 2025 Key Announcements: New tax bill, income tax slab, ITR ... (Livemint)

Budget 2025 Key Announcements: FM Nirmala Sitharaman announced a new tax bill, changed income tax slab, ITR extension, and more in Budget 2025.

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Image courtesy of "NDTV Profit"

No Income Tax Up To Rs 12 Lakh: Internet Flags Questions, Confusion (NDTV Profit)

Finance Minister Nirmala Sitharaman announced revised tax slabs and rates under the new regime to reduce the burden for all taxpayers.

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Image courtesy of "CNBCTV18"

Budget 2025: Full list of income tax changes announced (CNBCTV18)

Budget 2025 simplifies tax rules and provides major relief to taxpayers. The new tax slabs, second-home exemption, senior citizen benefits, ...

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Image courtesy of "Economic Times"

Huge tax relief in new tax regime but will this lead people to save ... (Economic Times)

The lock-in periods of tax-saving instruments have forced a patient approach to investing. Tax relief will put more money in people's pockets, but shifting ...

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