Union Finance Minister Nirmala Sitharaman, on Saturday, February 1, announced major income tax relief for salaried employees while presenting the Budget 2025 in Parliament. In her budget speech, Sitharaman said individual taxpayers will pay zero tax for income up to INR 12 lakh. She also announced new income tax rates and slabs. Check out the new income tax rates and slabs below. Union Budget 2025: Time Limit for Updated Income Tax Return Increased From 2 to 4 Years.

New Income Tax Rates, Slabs Announced by Nirmala Sithamaran in Union Budget

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