Budget 2025: No Income Tax Up to Rs 12 Lakh, Big Relief for Salaried Class
First Published: 1st February, 2025 12:36 IST
For salaried individuals, the effective tax-free income has been further extended to Rs. 12.75 lakh, factoring in deductions and exemptions.
In a major relief for taxpayers, Finance Minister Nirmala Sitharaman announced that individuals earning up to Rs. 12 lakh will not have to pay any income tax.
Presenting the Union Budget 2025, she raised the nil tax slab from Rs. 7 lakh to Rs. 12 lakh, drawing thunderous applause in the Parliament.
For salaried individuals, the effective tax-free income has been further extended to Rs. 12.75 lakh, factoring in deductions and exemptions. Senior citizens have also received a significant benefit, as the deduction limit on interest income has been doubled from Rs. 50,000 to Rs. 1 lakh.
The move is expected to boost disposable income, encourage spending, and enhance savings. With this bold reform, the government aims to provide financial relief to the middle class and stimulate economic growth.
COMMENTS
TOPMOST STORY NOW
Live Kuki, Meitei CSOs Likely to Meet Again Later This Month
05th April 2025
Live Sikkim Premier League Season 3 to Kick Off From April 10 in Namchi
05th April 2025
Live Meghalaya SSLC 2025 Results Out: Records Historic 87.10% Pass Rate
05th April 2025
Live Konyak Culture a Symbol of Resilience and Artistry: MoS Dr. Sukanta Majumdar at Mon Heritage Site Inauguration
05th April 2025
WE RECOMMEND
Parliament passes 16 bills during budget session
During this Session a total of 11 Bills (10 in Lok Sabha and 1 in Rajya Sabha) were introduced.
05th April 2025
Is Uploading Your Photo to AI Image Generators Including Ghibli-Style a Privacy Risk? Here’s How to Keep Your Biometric Data Safe
Ghibli-Style Image ChatGPT: As AI trends continue to grow, it is essential to stay alert about the potential risks.
02nd April 2025
A Sacred Journey, A Compassionate Heart: Anant Ambani Stops His Padayatra to Save Trapped Hens
Anant Ambani Stops His Padayatra to Save Trapped Hens: Anant Ambani seen holding a hen in front of a cage containing several trapped birds.
01st April 2025
Who is Nidhi Tewari Appointed Private Secretary to PM Modi?
Nidhi Tewari hails from Mehmurganj in Varanasi, Uttar Pradesh, which has been PM Narendra Modi's parliamentary constituency since 2014
01st April 2025
India hands over 50 tons of relief material to Myanmar
More than 2,000 people are now confirmed dead in Myanmar.
01st April 2025