Budget 2025: Major Tax Relief for Middle-Class, Zero Tax Up to ₹12 Lakh Proposed
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Shimla, February 3, 2025 – MP Suresh Kashyap highlighted key personal income tax reforms in Budget 2025, emphasizing relief for middle-class taxpayers. Speaking in the Lok Sabha, he stated that the government aims to simplify tax provisions, reduce rates, and ease compliance.
Key proposals include raising the basic exemption limit to ₹4 lakh, increasing the rebate under Section 87A to ₹12 lakh, and reducing tax rates for various income slabs. The new regime also enhances standard deductions for salaried individuals and pensioners while streamlining TDS and TCS provisions.
