'Make them wealthier, not gareeb-er': Anupam Mittal on big shift in budget 2025 for middle class
Budget with ET
Budget Highlights: Gareeb, youth, annadata and naari feature in Budget. What about taxes?
New vs Old tax regime: Here's a decoder to help you choose the right one
Will you pay more under new tax regime or old? Calculate here
In her speech, Sitharaman outlined the revised tax structure, emphasising the importance of the middle class in strengthening the economy. She said, «The middle class provides strength to the economy. In recognition of their contribution, we have periodically reduced the tax burdens. I am now happy to announce that there will be no income tax up to an income of ₹12 lakh.»
The new tax structure also includes updated tax slabs, offering more favourable rates for those in higher income brackets. The following are the revised income tax slabs under the new regime:
Income up to ₹4 lakh: NIL
₹4 lakh to ₹8 lakh: 5%
₹8 lakh to ₹12 lakh: 10%
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