New Delhi, Feb. 1 -- Budget 2025, Income Tax Slab Update: Finance Minister Nirmala Sitharaman in her Union Budget 2025 speech announced new income tax slabs for salaried individuals. As per Sitharaman, under the New Tax Regime, taxpayers with income up to Rs.12 lakhs are now exempted.

We take a look at what the new income tax slabs are, from when this is its applicable for salaried individuals, what this means, and other details.

In her budget statement, Finance Minister Nirmala Sitharaman declared that under the new tax regime, those earning up to Rs.12 lakh would not be eligible for taxes.

For incomes up to Rs.12 lakh ( Rs.12.75 lakh for salaried taxpayers with a basic deduction of Rs.75,000), the new tax regime gives ZERO or "nil" i...