Budget Update: New Income Tax Slabs for FY 2025-26

 











BUDGET 2025-26 UPDATE!

The Finance Bill of 2025 has proposed a significant update to the income tax structure under the new tax regime for the financial year 2025-26. Here's everything you need to know:


Key Highlights:

Income up to ₹12 lakh: Individuals earning a total income of up to ₹12 lakh annually will not have any tax liability.


Condition: To avail of this benefit, taxpayers must file their Income Tax Return (ITR) properly within the due date.


Income above ₹12 lakh: If your income exceeds ₹12 lakh, the applicable tax rates will be based on the following slabs:

Income Tax Slab Tax Rate

Up to ₹4,00,000 0%

₹4,00,001 – ₹8,00,000 5%

₹8,00,001 – ₹12,00,000 10%

₹12,00,001 – ₹16,00,000 15%

₹16,00,001 – ₹20,00,000 20%

₹20,00,001 – ₹24,00,000 25%

Above ₹24,00,000 30%

Standard Deduction: A standard deduction of ₹75,000 will be available for all salaried individuals, further reducing their taxable income.


This new tax regime aims to provide greater relief to middle-class taxpayers while simplifying the overall taxation process.


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