New Delhi, March 30 -- March 30:As the new financial year begins on April 1, several changes in income tax rules will come into effect. These updates, announced by Finance Minister Nirmala Sitharaman in the Union Budget 2025, aim to simplify the tax system and provide relief to salaried employees. From a higher tax-free income limit to changes in TDS rules, these revisions will impact every taxpayer in India.
One of the biggest reliefs for taxpayers is the increase in the tax-free income limit under the new tax regime. From April 1, individuals earning up to Rs 12 lakh annually will not have to pay any income tax. Earlier, this limit was Rs 7 lakh. Additionally, salaried employees will benefit from a Rs 75,000 standard deduction, effective...