Big Announcement in Budget : No Income Tax upto Rs. 12 lakh

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New Delhi : Union Finance minister Nirmala Sitharaman announced a big tax relief for the middle class. She proposed no income tax for individuals who earn up to Rs 12 lakh. For salaried persons, it will go up to Rs. 12. 75 lakhs by factoring in standard deduction. The changes have been proposed under the new tax regime.


As per the budget memorandum, “to enhance the limit of total income for rebate in clauses (a) and (b) of the first proviso under section 87A, on which the income tax is payable as per the rates of income tax under sub-section (1A) of section 115BAC, from Rs. 7,00,000 to Rs. 12,00,000 and the limit of rebate in clause (a) of first proviso to section 87A from Rs. 25,000 to Rs. 60,000,”
The finance minister also proposed new income tax bill, which she said will be tabled in Parliament next week. New tax bill will be simple to understand for taxpayers, the FM said. Sitharaman also proposed to make 36 life-saving drugs cheaper, including cancer medicines. The finance minister began presenting Budget 2025-06 amid ruckus by Opposition in Parliament.

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