The new tax regime offers five income tax slabs to taxpayers. The highest income tax rate of 30% is applicable if the net taxable income exceeds Rs 15 lakh. The new tax regime offers a tax rebate of ...

What are tax slabs, and how do they work? Tax slabs are the brackets under which your income is taxed at increasing rates as you earn more. With the introduction of the new tax regime, these slabs ...

Income Tax 2025: Nirmala Sitharaman’s 2025 budget introduces a revamped tax structure, eliminating income tax for earnings up to Rs. 12 lakh. (REUTERS) Union Finance Minister Nirmala Sitharaman ...

Over the past decade, key changes have included higher exemption limits, revised tax slabs, and enhanced rebates, reflecting a consistent push for tax relief. Budget 2025 prioritised three key ...

The Budget did not make any changes to the tax rates or slabs in the old tax regime, making it unattractive. Taxpayers opting for the new tax regime are not allowed to claim deductions or rebates ...

Revised income tax slabs: Nirmala Sitharaman announced that annual incomes up to ₹12 lakh will be tax-free to stimulate consumption. Revised Income tax slabs: Union finance minister Nirmala ...

Under the new slabs, taxpayers with Rs 12 lakh annual income will get a benefit of Rs 80,000 and those earning Rs 18 lakh will get a benefit of Rs 70,000, Ms Sitharaman told the parliament.

But the Budget speech, which also announced revised tax slabs, has left many confused over the relief they will be getting. The tax slabs under the new regime have been revised in Budget 2025.

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No, the rebate is only applicable for those earning up to Rs 12 lakh. If your taxable income is even a rupee more than Rs 12 lakh, you will have to pay taxes as per the slab rates under the new tax ...