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Union Budget 2025: No Income Tax Up to ₹12 Lakh, Announces FM Nirmala Sitharaman

Mumbai: In a major relief for the middle class, Finance Minister Nirmala Sitharaman announced that there will be no income tax payable for individuals earning up to ₹12 lakh per annum.

Presenting the Union Budget 2025 in Parliament on Saturday, Sitharaman emphasized the government’s commitment to easing the financial burden on the middle-income group.

“The middle class provides strength to the economy. In recognition of their contribution, we have periodically reduced the tax burden. I am now happy to announce that there will be no income tax up to an income of ₹12 lakh,” she said during her budget speech.

For salaried taxpayers, the exemption limit is effectively extended to ₹12.75 lakh due to the standard deduction of ₹75,000 under the new tax regime.

The announcement is expected to boost disposable incomes and increase spending, providing a fillip to economic growth. Experts believe this move will significantly benefit middle-class households by increasing their savings and improving overall financial well-being.

The Finance Minister also reiterated the government’s focus on fiscal prudence while ensuring that economic growth remains robust. With this landmark revision in the tax structure, millions of taxpayers across India are set to benefit, making this one of the most significant reforms in recent budget announcements.

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