Budget 2025, Feb. 1 -- Union Finance Minister Nirmala Sitharaman announced new tax slab rates under the new tax regime during her Budget 2025 speech, thus benefitting taxpayers across the board.

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

During a press brief after the Budget 2025 speech, Ms 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. Rebate is being given for the tax that...