Written By WION Video Team
Published: Feb 01, 2025, 08:10 IST | Updated: Feb 01, 2025, 08:10 IST
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India News Feb 01, 2025, 08:10 IST
Budget 2025: Tax announcement receives resounding claps from lawmakers | WION detailed coverage
Sitharaman is presenting her record eighth consecutive Budget on Saturday (Feb 1). The Budget speech is expected to provide a comprehensive overview of the government's fiscal policies, revenue and expenditure proposals, and taxation reforms, along with other important announcements.
Under the new tax regime, the government has introduced significant changes to benefit taxpayers, especially the middle class. One of the key highlights is the introduction of a "nil tax" slab for income up to ₹12 lakh, meaning individuals with income up to this threshold will pay no income tax. For salaried taxpayers, this limit increases to ₹12.75 lakh due to a standard deduction of ₹75,000.
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