New Delhi, Feb 1: Union Home Minister Amit Shah, applauding the tax cuts in the Union Budget 2025 today, said the middle class is always in PM Modi’s heart.
Pointing to the rejig of the tax brackets that has given a complete exemption to people with an annual income of Rs 12 Lakh, he said it will go a long way towards enhancing the financial well-being of the middle class.
“Congratulations to all the beneficiaries on this occasion,” he added in a post on X, formerly Twitter.
Union Finance Minister Nirmala Sitharaman, presenting the Union Budget 2025 today, made the big announcement, saying there will be no income tax payable up to Rs 12 lakh – i.e., up to Rs 12.75 lakh including standard deductions – under the new tax regime.
Under the revised slabs, tax on income up to Rs 4 lakh is nil; between Rs 4 and Rs 8 lakh the tax will be five per cent; between Rs 8 and Rs 12 lakh, it will be 10 per cent.
Between Rs 12 lakh and Rs 16 lakh, it will be 15 percent, between Rs 16 lakh and Rs 20 lakh it will be 20 percent, and between Rs 20 lakh and Rs 24 lakh, it will be 25 percent.
Income above Rs 24 lakh will be in the 30 percent tax bracket.
Good step
Yes, the last 11 years saw that.
But every body knows you both and third one is heartless
Camofloge. Real limit is 4lakh. News 12 lakh. May be to hood wink delhi election. Show courage to disband IT as there is GST on every thing with out expemtion.
Please decrease this high inflation…
Only two people are close to these people…..Ambani and adani….
Bilal Ahmed Dar true
Middle class
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