New Delhi, Feb. 1 -- Union Finance Minister Nirmala Sitharaman delivered her 8th consecutive Union Budget today, February 1, 2025, at 11 am. The Budget aims to provide significant benefits to taxpayers, particularly the middle class, by reducing the tax burden and leaving more disposable income in their hands.

In a move that has been widely anticipated, the Union Budget 2025-26 introduced a revamped income tax structure designed to reduce taxes for the middle class. The new tax regime will provide substantial relief, making it more attractive for taxpayers.

No tax on income up to Rs. 12 lakh: The most significant update is that there will be no income tax payable on annual earnings of up to Rs. 12,00,000 under the new tax regime.

Incom...