The finance minister emphasised that this budget focus on ‘rising middle class’ in the country and said ‘No income tax payable on income up to Rs 12 lakh’.
Nirmala Sitharaman said, “This limit will be Rs 12.75 lakh for salaried taxpayers, with standard deduction of Rs 75,000. The new structure will substantially reduce the taxes of the middle class, boosting consumption, savings and investment.”
There will be no income tax payable up to an income of Rs 12 lakh.
This limit will be Rs 12.75 lakh for salaried taxpayers, with standard deduction of Rs 75,000.
The new structure will substantially reduce the taxes of the middle class, boosting consumption, savings and… pic.twitter.com/FvxljJxks3
— BJP (@BJP4India) February 1, 2025
Viksit Bharat is the main goal of the budget and the government want to achieve zero poverty, 100% quality education, and comprehensive healthcare for all citizens.
Zero Income Tax till ₹12 Lakh Income under New Tax Regime
👉 Slabs and rates being changed across the board to benefit all tax-payers
👉 New structure to substantially reduce taxes of middle class and leave more money in their hands, boosting household consumption, savings and… pic.twitter.com/KfQy4a6PGd
— Ministry of Finance (@FinMinIndia) February 1, 2025
