Income Tax Slabs, Budget 2025 Updates: Prime Minister Narendra Modi congratulated Finance Minister Nirmala Sitharaman for her ‘people-centric’ financial papers. The FM announced a big tax relief for the middle class today by proposing no income tax for individuals who earn up to Rs 12 lakh. The changes have been proposed under the new tax regime. The finance minister also proposed new income tax bill, which she said will be tabled in Parliament next week.
New tax bill will be simple to understand for taxpayers, the FM said. Sitharaman also proposed to make 36 life-saving drugs cheaper, including cancer medicines. The finance minister began presenting Budget 2025-06 amid ruckus by Opposition in Parliament.
Watch this space for all budget-related live updates, with a focus on income tax slab changes. This space will also clear your basic doubts, simplify some terms for you and also share budget trivia.