Income Tax New Slab in Budget 2025
Finance Minister Nirmala Sitharaman has declared that under the New Regime of Income Tax, those earning up to ₹12 lakh need not pay any income tax. For any sort of income up to ₹12 lakh per anum and ₹12.75 lakh for salaried employees (with a basic deduction of ₹75,000), no income tax will be levied from them. In practice, this implies that those making up to ₹12,75,000 per year will not be required to pay taxes.
The Modi government has established new tax slabs with the goal of significantly lowering taxes and giving more money to the middle class, which will increase household consumption, savings, and investment as well.
The 2025 Budget declared tax slabs and rates are as follows:
If your total annual income is more than 12 lakh, your entire income will be taxable under the following slab rate:
0-4 lakh rupees: Nil
4-8 lakh rupees: 5%
8-12 lakh rupees: 10%
12-16 lakh rupees: 15%
16-20 lakh rupees: 20%
20-24 lakh rupees: 25%
Above 24 lakh rupees: 30%
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