Budget 2025, Feb. 1 -- Union Finance Minister Nirmala Sitharaman on Saturday announced new tax slab rates under the new tax regime during her Budget 2025 speech, which will benefit taxpayers across the board.

Till now, a rebate under section 8&A is offered for taxpayers earning up to Rs.7 lakh. But now, a higher tax rebate will be offered for those earning between Rs.7 lakh and Rs.12 lakh, as a result of which - those earning up to Rs.12 lakh will not have to pay any income tax now, she explained.

During a press briefing after the Budget 2025 speech, Sitharaman said that not only those earning Rs.12 lakh will not have to pay any tax, but there will be Rs.2.6 lakh more in the pockets of the people who are earning Rs.24 lakh. A rebate is ...