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.
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