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India Budget 2025: Zero Income Tax till ₹12 Lakh income under new tax regime, announces FM Nirmala Sitharaman

  • Finance Minister Nirmala Sitharaman announced that no income tax will be payable on a normal annual income of up to ₹12 lakh under the new tax regime.
  • The new tax regime includes a standard deduction of ₹75,000, allowing taxpayers with up to ₹12.75 lakh annual income to pay zero tax.
  • A new Direct Tax Bill will be introduced in Parliament next week to simplify tax laws and reduce litigation, according to Sitharaman.
  • The government aims to ease business regulations and enhance digital infrastructure for international trade, as stated by Finance Minister Nirmala Sitharaman.
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