Budget 2025: Now less tax and more savings, rain of ‘happiness’ in this budget for middle class, read what and what got what
New Regime’s Tax Slab (no tax till income of Rs 12 lakh, above))
- 5 percent tax on 4-8 lakhs
- 10 percent tax on 8.12 lakh rupees
- 15 percent tax on Rs 12-16 lakh
- 16-20 lakh rupees 20 percent
- 25 percent tax will have to be paid on 20 – 24 lakh rupees
How was the tax slab till today
Currently, two tax systems are running inside the country. One is Old Tax Resetim and the other New Tax Regim. No exemption is given through 80C in the New Income Tax Reset. Because of this, Salared Employees are demanding to add saving rules in it. Let us tell you that during Budget 2024, Finance Minister Nirmala Sitharaman had increased the standard tax limit from Rs 50 thousand to Rs 75 thousand under the New Tax Regime.
Slab and tax under New Tax Regime till today
- On income up to Rs 3 lakh – 0% tax
- On income ranging from Rs 3 lakh to Rs 6 lakh – 5% tax
- On income ranging from Rs 6 lakh to Rs 9 lakh- 10% tax
- On income ranging from Rs 9 lakh to Rs 12 lakh – 15% tax
- On income ranging from Rs 12 lakh to Rs 15 lakh – 20% tax
- On income up to Rs 15 lakh – 30% tax