{"id":210668,"date":"2025-02-03T18:00:22","date_gmt":"2025-02-03T12:30:22","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=210668"},"modified":"2025-02-03T18:00:23","modified_gmt":"2025-02-03T12:30:23","slug":"union-budget-2025-new-income-tax-slabs","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/union-budget-2025-new-income-tax-slabs\/","title":{"rendered":"Union Budget 2025-26, Simplified New Income Tax Slabs &#038; Key Updates"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/union-budget-2025-new-income-tax-slabs\/#New_Income_Tax_Slabs_for_Union_Budget_2025-26\" >New Income Tax Slabs for Union Budget 2025-26<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/union-budget-2025-new-income-tax-slabs\/#How_Income_Up_to_%E2%82%B912_Lakh_Becomes_Tax_Free\" >How Income Up to \u20b912 Lakh Becomes Tax Free?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/union-budget-2025-new-income-tax-slabs\/#Key_Tax_Reforms_and_Updates_from_Union_Budget_2025-26\" >Key Tax Reforms and Updates from Union Budget 2025-26<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/union-budget-2025-new-income-tax-slabs\/#Union_Budget_2025-26_Frequently_Asked_Questions\" >Union Budget 2025-26 Frequently Asked Questions<\/a><\/li><\/ul><\/nav><\/div>\n\n<p><strong>Union Budget 2025-26:<\/strong> The Finance Minister <strong>Nirmala Sitharaman<\/strong> has released <strong>Union Budget 2025-26<\/strong> on 1st February 2025 with big changes. The <strong>Union Budget for 2025-26 <\/strong>has introduced significant reforms aimed at simplifying the taxation system and providing relief to taxpayers. The new tax reforms has given a relief to middle class, leaving more money in their hands, boosting household consumption, savings and investment. <strong>In this article, we will break down the new income tax slabs of Union Budget 2025-26, explore key changes in tax regulations, and understand how these reforms can benefit taxpayers across India.<\/strong><\/p>\n\n\n\n<p><strong>Also Read: <a href=\"https:\/\/www.oliveboard.in\/blog\/union-budget-2025-26\/\" target=\"_blank\" rel=\"noreferrer noopener\">Union Budget 2025-26, Check Key Highlights<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"New_Income_Tax_Slabs_for_Union_Budget_2025-26\"><\/span>New Income Tax Slabs for Union Budget 2025-26<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <strong>Union Budget 2025-26<\/strong> introduces a revamped set of income tax slabs designed to provide greater relief to individual taxpayers, particularly those earning up to <strong>\u20b912 lakh<\/strong>. Let&#8217;s compare the revised tax slabs with the earlier ones and understand the tax rebate that makes income up to \u20b912 lakh tax-free.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Revised Tax Slabs (2025-26)<\/h4>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Income Range<\/strong><\/td><td><strong>Tax Rate<\/strong><\/td><\/tr><tr><td>\u20b90 &#8211; \u20b94,00,000<\/td><td>No Tax<\/td><\/tr><tr><td>\u20b94,00,001 &#8211; \u20b98,00,000<\/td><td>5%<\/td><\/tr><tr><td>\u20b98,00,001 &#8211; \u20b912,00,000<\/td><td>10%<\/td><\/tr><tr><td>\u20b912,00,001 &#8211; \u20b916,00,000<\/td><td>15%<\/td><\/tr><tr><td>\u20b916,00,001 &#8211; \u20b920,00,000<\/td><td>20%<\/td><\/tr><tr><td>\u20b920,00,001 &#8211; \u20b924,00,000<\/td><td>25%<\/td><\/tr><tr><td>Above \u20b924,00,000<\/td><td>30%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">Earlier Tax Slabs (FY 2024-25)<\/h4>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Income Range<\/strong><\/td><td><strong>Tax Rate<\/strong><\/td><\/tr><tr><td>Up to \u20b93,00,000<\/td><td>No Tax<\/td><\/tr><tr><td>\u20b93,00,001 &#8211; \u20b97,00,000<\/td><td>5%<\/td><\/tr><tr><td>\u20b97,00,001 &#8211; \u20b910,00,000<\/td><td>10%<\/td><\/tr><tr><td>\u20b910,00,001 &#8211; \u20b912,00,000<\/td><td>15%<\/td><\/tr><tr><td>\u20b912,00,001 &#8211; \u20b915,00,000<\/td><td>20%<\/td><\/tr><tr><td>Above \u20b915,00,000<\/td><td>30%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Income_Up_to_%E2%82%B912_Lakh_Becomes_Tax_Free\"><\/span>How Income Up to \u20b912 Lakh Becomes Tax Free?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Under the new tax regime of Union Budget 2025-26, individuals with a taxable income up to<strong> \u20b912 lakh (\u20b91 lakh per month) <\/strong>will pay no tax. This is made possible by a tax rebate under <strong>Section 87A<\/strong>, which allows taxpayers with income up to <strong>\u20b912 lakh <\/strong>to claim full tax exemption. For salaried individuals, the limit increases to <strong>\u20b912.75 lakh<\/strong> due to a<strong> \u20b975,000 standard deduction<\/strong>. This means that many middle-class earners can keep more of their income, which helps with savings, investment, and spending, contributing to overall economic growth.<\/p>\n\n\n\n<p>For Example: If you earn \u20b98 lakh annually, the revised tax regime, combined with the rebate, ensures that you pay no tax. You want to know how?<\/p>\n\n\n\n<p><strong>Tax Calculation:  <\/strong><\/p>\n\n\n\n<p>\u20b98 lakh &#8211; \u20b912 lakh<\/p>\n\n\n\n<p> = \u20b94 lakh that will attract 10% tax on \u20b94 lakh <\/p>\n\n\n\n<p>= \u20b940,000<\/p>\n\n\n\n<p>Although the tax slabs specify rates for incomes starting from <strong>\u20b98 lakh<\/strong>, the tax rebate ensures that individuals in these brackets effectively pay no tax, as the rebate eliminates up to <strong>\u20b940,000 <\/strong>of their liability.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Tax_Reforms_and_Updates_from_Union_Budget_2025-26\"><\/span>Key Tax Reforms and Updates from Union Budget 2025-26<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h4 class=\"wp-block-heading\">1. No Tax Up to \u20b912 Lakh Income<\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>The new income tax regime ensures no tax for individuals earning up to \u20b912 lakh annually (\u20b91 lakh\/month). <\/li><li>Salaried individuals benefit from a \u20b975,000 standard deduction, pushing the threshold to \u20b912.75 lakh, making them tax-free. <\/li><li>The government expects a \u20b91 lakh crore revenue loss due to these reforms.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">2. Rationalization of TDS\/TCS<\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>The number of <strong>TDS rates<\/strong> and thresholds is simplified, easing compliance.<\/li><li>Senior citizens now have a<strong> \u20b91 lakh<\/strong> limit for tax deduction on interest (up from \u20b950,000).<\/li><li>TDS on rent has been increased from<strong> \u20b92.40 lakh to \u20b96 lakh.<\/strong><\/li><li>TCS threshold for remittances under the <strong>Liberalized Remittance Scheme (LRS) <\/strong>is raised from <strong>\u20b97 lakh to \u20b910 lakh.<\/strong><\/li><li>Decriminalization of TCS payment.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Union_Budget_2025-26_Frequently_Asked_Questions\"><\/span>Union Budget 2025-26 Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1738584127136\"><strong class=\"schema-faq-question\">1. What is the new tax regime for income up to \u20b912 lakh?<\/strong> <p class=\"schema-faq-answer\">Ans: Under the new tax regime, individuals earning up to \u20b912 lakh annually (\u20b91 lakh\/month) will pay no tax. Salaried taxpayers benefit from a \u20b975,000 standard deduction, raising the limit to \u20b912.75 lakh.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1738584148937\"><strong class=\"schema-faq-question\">2. How does the tax rebate under Section 87A work?<\/strong> <p class=\"schema-faq-answer\">Ans: The tax rebate under Section 87A provides full tax exemption for taxpayers with taxable income up to \u20b912 lakh, effectively making their income tax-free.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1738584180592\"><strong class=\"schema-faq-question\">3. What is the new registration period for small charitable trusts under Union Budget 2025-26?<\/strong> <p class=\"schema-faq-answer\">Ans: The registration period for small charitable trusts has been increased from 5 years to 10 years, reducing the compliance burden.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1738584210951\"><strong class=\"schema-faq-question\">4. How does the Union Budget 2025-26 support startups?<\/strong> <p class=\"schema-faq-answer\">Ans: The budget extends the period for startup incorporation benefits by 5 more years, allowing startups to avail themselves of tax incentives until 1st April 2030.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1738584233526\"><strong class=\"schema-faq-question\">5. Can taxpayers claim exemptions for multiple self-occupied properties?<\/strong> <p class=\"schema-faq-answer\">Ans: Yes, taxpayers can now claim nil annual value for two self-occupied properties without restrictions.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Union Budget 2025-26: The Finance Minister Nirmala Sitharaman has released Union Budget 2025-26 on 1st February 2025 with big changes.<\/p>\n","protected":false},"author":50,"featured_media":210693,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,31,10210],"tags":[17288,17278,17289],"class_list":["post-210668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-bank-exams","category-epfo","tag-new-income-tax-slabs","tag-union-budget-2025-26","tag-union-budget-tax-reform","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Union Budget 2025-26, Simplified New Income Tax Slabs<\/title>\n<meta name=\"description\" content=\"Union Budget 2025-26: Zero tax up to \u20b912L, new slabs, higher rebates, TDS\/TCS updates &amp; startup boosts. 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I'm a dedicated Government Job aspirant turned passionate writer &amp; content marketer. My blogs are a one-stop destination for accurate and comprehensive information on exam categories like Regulatory Bodies, Banking, SSC, State PSCs, and more. I am on a mission to provide you with all the details you need, conveniently in one place. When I am not writing and marketing, you will find me happily experimenting in the kitchen, cooking up delightful treats. Join me on this journey of knowledge and flavors!\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/union-budget-2025-new-income-tax-slabs\/#faq-question-1738584127136\",\"position\":1,\"url\":\"https:\/\/www.oliveboard.in\/blog\/union-budget-2025-new-income-tax-slabs\/#faq-question-1738584127136\",\"name\":\"1. What is the new tax regime for income up to \u20b912 lakh?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ans: Under the new tax regime, individuals earning up to \u20b912 lakh annually (\u20b91 lakh\/month) will pay no tax. Salaried taxpayers benefit from a \u20b975,000 standard deduction, raising the limit to \u20b912.75 lakh.\",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/union-budget-2025-new-income-tax-slabs\/#faq-question-1738584148937\",\"position\":2,\"url\":\"https:\/\/www.oliveboard.in\/blog\/union-budget-2025-new-income-tax-slabs\/#faq-question-1738584148937\",\"name\":\"2. 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