Full Tax Rebate For Income Up To Rs 12 Lakhs' : Finance Minister Announces New Tax Rates In Union Budget 2025

The Finance Minister announced a new income tax regime in the Union Budget 2025, which includes an exemption for income up to Rs 12 lakhs. Under this revised system, individuals earning up to this amount will not be required to pay any income tax. Additionally, there are various tax rate changes aimed at simplifying the tax structure and making it more equitable. These new measures seek to provide relief to middle-class taxpayers and create a more conducive environment for economic growth. The revised tax structure is designed to benefit individuals with moderate to higher incomes, thereby reducing their tax liabilities and promoting greater disposable income for citizens.