Income Tax Slabs, Budget 2025 LIVE Updates: Will Union finance minister Nirmala Sitharaman bring tax relief for the middle class today? Good morning, readers. As we watch the tabling of much-anticipated Budget 2025, all eyes are on major changes to the income tax slabs. Reports suggest that there could be a relaxation on income tax for individuals, especially those earning up to Rs 15 lakh. According to reports, Sitharaman might raise standard deduction limit from Rs 75,000 to Rs 1 lakh, apart from raising rebate under 87A to Rs 10 lakh and introducing various deductions under the new tax regime.
Meanwhile, Prime Minister Narendra Modi has also hinted at tax relief this Budget. At an event yesterday, he said, “I pray that Maa Lakshmi continues to bless the poor and middle class of our country. It is a matter of great pride that India completed 75 years as a democratic nation. India has established itself well on the global pedestal.”
