Summary: The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, focused on reforms in taxation, agriculture, MSMEs, and exports. Direct tax proposals included no tax on incomes up to ...
The new tax regime is the default tax regime. The highest tax rate of 30% is applicable from net taxable income above Rs 15 lakh. However, the new tax regime offers limited deductions to the taxpayer.
The Finance Bill 2025 introduces changes to the personal income tax regime with a focus on providing relief to the middle class. The New Regime offers concessional tax rates with no deductions (except ...