Budget 2025 Changes in Tax Slabs will increase your in hand salary know details

Budget 2025: Finance Minister Nirmala Sitharaman gave relief to the taxpayers in the budget presented today and said that now there will be no tax on income up to 12 lakhs. This announcement made in the budget blossomed the faces of millions of middle class families of the country. This is not just a policy change, but the lifeline of the common man of the country.

Economy gets strength from middle class

The role of middle class of the country is considered important in speeding up the economic development of the country. Talking about this, the Finance Minister said, “The middle class of the country gives strength to the economy. Considering his contribution to be important, we have given him some relief from tax burden. ”Now the government’s announcement will now save up to Rs 12 lakh to save Rs 80,000 annually. Under the new tax regime, one who earns Rs 12.75 lakh annually does not need to pay a single penny tax. However, if the annual income is a single rupee more than Rs 12.75 lakh, then they will have to pay 15 percent tax.

He has also got some relief from this change in New Tax Region, whose annual income is up to Rs 18 lakh. Their saving on tax in one year will be Rs 70,000. Similarly, the tax savings of 25 lakhs annually will be Rs 1,10,000, which is currently 25 percent of their tax liability. Through Budget 2025, the government indicated that it is not only a fiscal adjustment, but it is also to support those who contribute to the economic backbone of the country.

Learn who will benefit?

Under the new slab, earlier 15 lakh earners had to pay 1.30 lakh rupees tax, but now only 97,500 rupees would have to be paid. That is, these people will save Rs 32,500 on tax. Similarly, in lieu of one lakh 84 thousand earning 17 lakhs, now 1.30 lakh tax will have to be paid. That is, their savings on tax were Rs 54,600. In this sequence, after the new slab, which earns Rs 22 lakh annually, you will save Rs 1,00,100 on tax. Those who income of Rs 25 lakh annually will now have to pay only 3 lakh 19 thousand 800 rupees in exchange for 4 lakh 34 thousand 200 rupees. That is, there will be a profit of one lakh 17 thousand 400 rupees directly.

Explain that the amount to be calculated after TDS and other cuts is called net salary or tech-hom salary.

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