Slight Relief for Taxpayers

In the 2025 budget presented by Union Finance Minister Nirmala Sitharaman on Saturday, taxpayers have received some relief. The Finance Minister delivered good news for individuals with an annual income of up to Rs 12 lakh. Under the new provisions, such individuals will not be required to pay any tax. This decision by the central government will save taxpayers with an annual income of Rs 12 lakh up to Rs 80,000.

The entire nation had been eagerly awaiting the central budget, and the government has introduced a new tax regime that offers significant savings. For individuals earning up to Rs 25 lakh annually, the new tax policy will result in savings of up to Rs 1.10 lakh. During her budget speech, the Finance Minister emphasized that the government has taken a positive step to simplify the tax system and provide relief to taxpayers.

According to the new tax policy introduced by the central government, lower tax rates will be applied. Individuals with an income of up to Rs 4 lakh will not have to pay any tax. For incomes between Rs 4 lakh and Rs 8 lakh, a 5% tax rate will apply, while incomes between Rs 8 lakh and Rs 12 lakh will be taxed at 10%. For incomes above Rs 24 lakh, a 30% tax rate will be applicable.

In recent days, there had been speculation that the budget might exempt individuals with incomes up to Rs 10 lakh from paying taxes. However, the central government's decision to go beyond expectations and provide relief to the middle class has been widely appreciated. This move is expected to bring significant relief to the common people.