Budget Highlights 2025 Income Tax Calculator. Proposes nil tax on income up to โน12 lakh per annum under new tax regime, finance minister nirmala sitharaman said in her union budget 2025 speech in the parliament,. In a major announcement, finance minister nirmala sitharaman in her budget 2025 speech said that there will be no income tax till income up to rs 12 lakh under the new regime.
Under the new regime, the tax liability for individuals earning rs 12 lakh or rs 12.75 lakh (for salaried persons) is rs 60,000, which is. Individuals having an annual income of rs 24 lakh or more can hope to save of rs 1.10 lakh in income tax, while those earning rs 12 lakh will have to.
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