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Finance Minister Nirmala Sitharaman announced a new tax slab in the Union Budget 2025, with no tax on income up to Rs 12 lakh and up to Rs 12.75 lakh for salaried individuals. The new tax regime includes different slabs ranging from 0% to 30%, resulting in tax benefits for taxpayers at various income levels. Sitharaman highlighted the importance of the middle class in India’s growth and emphasized the government’s efforts to reduce their tax burden, aiming to support democracy, demography, and demand in building a prosperous nation under Prime Minister Narendra Modi’s leadership.
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