Google trend - Income tax slabs Union Budget 2025

Income tax slabs Union Budget 2025 - 10 things to know with detail

• The Union Budget 2025 has introduced new income tax slabs for individual taxpayers in India.
• The new income tax slabs are as follows:
• - For individuals with an annual income up to Rs. 5 lakhs, there will be no tax.
• - For individuals with an annual income between Rs. 5 lakhs and Rs. 10 lakhs, the tax rate will be 10%.
• - For individuals with an annual income between Rs. 10 lakhs and Rs. 20 lakhs, the tax rate will be 20%.
• - For individuals with an annual income above Rs. 20 lakhs, the tax rate will be 30%.
• The new income tax slabs aim to provide relief to middle-class taxpayers and simplify the tax structure.
• The Union Budget 2025 has also introduced a new tax rebate of up to Rs. 10,000 for individuals with an annual income up to Rs. 5 lakhs.
• The new income tax slabs will come into effect from the financial year 2025-26.
• The Union Budget 2025 has also announced measures to promote digital transactions and reduce the burden of compliance for taxpayers.
• The government aims to increase tax compliance and revenue collection through the new income tax slabs.
• The new income tax slabs are expected to benefit a large number of taxpayers, especially in the middle-income bracket.
• The government has also introduced measures to simplify the tax filing process and reduce the time and effort required for taxpayers to file their returns.
• Overall, the new income tax slabs introduced in the Union Budget 2025 are aimed at providing relief to taxpayers and promoting economic growth in the country.