New Tax Regime: Union Finance Minister Nirmala Sitharaman has given a big relief to the middle class in the Union Budget 2025. She has announced a new tax regime, due to which taxpayers will now have to pay less tax.
New tax slab (Union Budget 2025)
Up to 0-4 lakh → No tax
Up to 4-8 lakh → 5% tax
Up to 8-12 lakh → 10% tax
Up to 12-16 lakh → 15% tax
Up to 16-20 lakh → 20% tax
Big relief for the middle class
This new tax system will provide great relief to the middle class and their savings will increase. The tax slab has been made simpler and affordable than before, so that more people will benefit from it.
Step towards economic reform
The government has taken this step to increase economic reform in the country and the purchasing power of the people. This will increase disposable income and also increase consumption, thereby strengthening the country’s economy.