In her speech, the Finance Minister revealed that individuals with earnings up to Rs 12 lakh will be exempt from taxes. With the inclusion of a standard deduction of Rs 75,000, the effective tax-free limit increases to Rs 12.75 lakh.
In Budget 2025, Finance Minister Nirmala Sitharaman announced substantial income tax savings, providing taxpayers with increased disposable income and revising the calculation of their tax obligations. A key highlight is that individuals earning up to Rs 12 lakh will be exempt from income tax under the new taxation framework.
