How New Income Tax Slabs and Rates, Announced in Budget 2025, Are Different From Current Income Tax Slabs and Rates Under Old and New Regimes
The new income tax slabs announced in Budget 2025 offer lower rates and broader exemptions, contrasting with the existing old and new regime structures, providing significant relief to middle-income taxpayers.
Mumbai, February 1:슬롯 머신 사이트 추천Union Finance Minister Nirmala Sitharaman unveiled her eighth consecutive Union Budget on Saturday, February 1, 2025. The income tax rebates introduced in this budget have quickly become the biggest talking point.슬롯 머신 사이트 추천Finance Minister Nirmala Sitharaman announced that under the new tax regime, individuals earning up to INR 12 lakh슬롯 머신 사이트 추천would not be obliged to pay taxes. Let슬롯사이트™s take a look at the new income tax regime and compare it with the old one.
Income tax in India follows a slab system, where different income ranges are taxed at varying rates. As an individual's income rises, the tax rate increases accordingly. This progressive system ensures fairness in taxation. The income tax slabs are updated periodically, usually with each annual budget.슬롯 머신 사이트 추천Summary of Union Budget 2025-26 Presented by Finance Minister Nirmala Sitharaman in Parliament.
New Income Tax Slab
Finance Minister Nirmala Sitharaman unveiled the new income tax slabs in the Union Budget 2025. The revised tax slabs under the new regime are as follows:슬롯 머신 사이트 추천Union Budget 2025: Here슬롯사이트™s What All Will Get Cheaper and Costlier As Finance Minister Nirmala Sitharaman Rejigs Basic Customs Duties.
| Income Range (In INR) | Income Tax Rate (%) |
| Up to INR4,00,000 | 0% |
| INR 4,00,001 to INR 8,00,000 | 5% |
| INR 8,00,001 to INR 12,00,000 | 10% |
| INR 12,00,001 to INR 16,00,000 | 15% |
| NR16,00,001 to INR 20,00,000 | 20% |
| INR 20,00,001 to INR 24,00,000 | 25% |
| AboveINR 24,00,000 | 30% |
Current Income Tax Slab
| Income Range (In INR) | Income Tax Rate (%) |
| Up to INR 3,00,000 | 0% |
| INR 3,00,001 to INR 7,00,000 | 5% |
| INR 7,00,001 to INR 10,00,000 | 10% |
| INR 10,00,001 to INR 12,00,000 | 15% |
| INR 12,00,001 to INR 15,00,000 | 20% |
| INR 15,00,001 and above | 30% |
In conclusion, the new income tax slabs introduced in Budget 2025 bring notable changes, offering lower rates and eliminating taxes for lower income brackets. These reforms contrast with the old and new regimes by simplifying tax compliance, reducing the tax burden on middle-income earners, and boosting household savings and consumption.
(The above story first appeared on LatestLY on Feb 01, 2025 02:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).