New Delhi, Feb. 1 -- Finance minister Nirmala Sitharaman unveiled the Union Budget 2025-26 on 1 February, introducing a series of measures aimed at easing taxpayers' burden. Here's a breakdown of the key changes:

In a major relief for taxpayers, the Union Budget has proposed raising the tax-free income threshold to Rs.12 lakh, up from Rs.7 lakh. For salaried individuals, factoring in the Rs.75,000 standard deduction, income up to Rs.12.75 lakh will now be tax-free. However, capital gains remain separately taxed under short-term and long-term tax slabs.

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The Budget provides relief for senior citizens relying on interest income, doubling the TDS (tax deducted at s...