Business & Economy, India news: With the new tax slabs, Sitharaman has announced that individuals earning up to Rs 12 lakh annually will no longer be taxed.

Union Budget 2025 tax changes: New slabs, how do they benefit you - All FAQs answered

The Indian government plans to examine the exemption-free new tax regime shortly in order to make it more appealing to individual income taxpayers, according to Indian news agency PTI.

Income Tax alert: India plans to review exemption-free tax regime

Finance Minister of India, Nirmala Sitharaman today slashed the personal income tax rate for individuals for the fiscal year 2020-21. Under the new regime, taxpayers will pay 10%, 15%, 20% and 25% for incomes between Rs 5-7.5 lakh, Rs 7.5-10 lakh, Rs 10-12.5 lakh and Rs 12.5-15 lakh.

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