No Income Tax Upto 12 Lakh: Huge Relief for Tax Payers in Middle Class

In a major relief to taxpayers, the government has announced today that no income tax will be levied on annual income up to Rs 12 lakh in the new tax regime. This move is expected to benefit millions of salaried individuals and provide a significant boost to their income.

The new tax regime, according to the latest updates from Budget 2025, will exempt people with an annual income of up to Rs 12 lakh from paying income tax. That is, salaried people will not have to pay any income tax if their income is up to Rs 12,75,000.

This step is perceived to be one of the most important steps for the middle class, who have been worst hit by inflation and high taxation. The move of the government exempting up to Rs 12 lakh income from tax would leave more money in the pocket of taxpayers and subsequently increase consumption and economic growth.

The new tax regime is supposed to be much more simplified and taxpayer-friendly with fewer exemptions and deductions. However, the government has ensured that the tax burden on the middle class is reduced, which makes it a welcome move for taxpayers.

Overall, Budget 2025 has cheered taxpayers, especially the salaried class, with its decision to exempt income up to Rs 12 lakh from tax. This move is expected to have a positive impact on the economy and provide relief to millions of taxpayers.

Also read: Budget 2025 Live Updates: FM Nirmala Sitharaman Presents Union Budget in Parliament on February 1, 2025