Income Tax Slabs Budget 2025 Highlights: How much income tax will middle class taxpayers save? FM Sitharaman's big tax announcements decoded

Income Tax Slabs Budget 2025 Live: Finance Minister Nirmala Sitharaman has brought big cheer for middle class taxpayers - it’s a bonanza like never before! Income tax slabs and income tax rates for FY 2025-26 have been revised under the new income tax regime and the biggest takeaway is zero tax up to Rs 12 lakh and relief across the board for taxpayers above that income level as well.Narenra Modi government’s Budget 2025 brought welcome relief for taxpayers, especially the middle-class population, who have been struggling with economic slowdown and inflationary pressures.Following hints from both the Prime Minister and the President, the Finance Minister delivered substantial tax reforms, offering relief worth Rs 1 lakh crore in income tax - an unprecedented figure. The new tax structure provides a rebate on annual income up to Rs 12 lakh, increased from the current Rs 7 lakh, with revised limits across various income tax slabs. If you already under the new tax regime, you will save tax, but if you are in the old tax regime, should you switch? Track TOI’s income tax special Budget coverage that will help you decode the major income tax changes in Budget 2025: