No income tax for upto income of ₹12 lakh in new tax regime, says Sitharaman

way2barak February 01 : Presenting the Union Budget 2025 in Parliament, finance minister Nirmala Sitharaman announced that zero income tax will be levied till ₹12 lakh income under the new tax regime. Nirmala Sitharaman said the new and “simpler” income tax bill will be introduced next week. Nirmala Sitharaman announced a slew of measures in Union Budget 2025 for several focus areas such as agriculture and MSMEs.

Finance minister Nirmala Sitharaman is presenting her record eighth Union Budget in Parliament amid high hopes of tax relief. Delivering the first full budget of Prime Minister Narendra Modi-led government third term, Nirmala Sitharaman has registered the feat of being the only finance minister to present Union Budget for eight consecutive times.