Budget 2025 Income Tax Calculator Explained: Save Up to Rs 1.1 Lakh! Income Tax Slab Changes Benefit Taxpayers at Different Salary Levels Individuals Earning Rs 12 Lakh Now Pay NIL or ZERO Tax
Budget 2025 Income Tax Calculator Explained: Save Up to Rs 1.1 Lakh!
In the recently announced Budget 2025, the Indian government has made significant changes to the income tax slabs that can benefit taxpayers across various income levels. With a primary aim to provide relief and encourage savings, the new regime introduces some exciting features for individuals earning different salaries.
Zero Tax for Rs 12 Lakh Earners
One of the biggest highlights is the introduction of a zero tax slab for individuals earning up to Rs 12 lakh. Yes, you read that right—if you earn Rs 12 lakh, you can now enjoy the sweet taste of NIL tax! This change is expected to benefit a vast majority of middle-class taxpayers who are often seen as the backbone of our economy.
Income Tax Slabs Under the New Regime
Here’s a quick rundown of the revised income tax slabs:
– Income up to Rs 2.5 lakh: 0%
– Income from Rs 2.5 lakh to Rs 5 lakh: 5%
– Income from Rs 5 lakh to Rs 10 lakh: 10%
– Income from Rs 10 lakh to Rs 12 lakh: 15%
– Income above Rs 12 lakh: 20% and 30% as applicable
With these changes, an individual earning Rs 15 lakh can save as much as Rs 1.1 lakh annually compared to the previous tax structure!
Benefits for All Taxpayers
Whether you are a salaried employee, a freelancer, or running your own business, these new tax slabs provide an opportunity for substantial savings. The government’s initiative to reduce tax burdens can lead to increased disposable income for taxpayers, potentially boosting spending and investment.
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In conclusion, the Budget 2025 changes promise significant relief for taxpayers, especially those earning up to Rs 12 lakh. Take advantage of the new income tax slabs and start planning your finances for a more secure future!
