Union Budget 2025: Income tax basic exemption limit hiked by Rs 1 lakh in new tax regime; check details
Finance Minister Nirmala Sitharaman announced an increase in the basic income tax exemption limit from Rs 3 lakh to Rs 4 lakh under the new tax regime. This change will reduce tax liabilities for taxpayers, with ITR filings required only if gross taxable income exceeds the new threshold, except in specific conditions.
Finance Minister Nirmala Sitharaman announced an increase in the basic income tax exemption limit from Rs 3 lakh to Rs 4 lakh under the new tax regime. This change will reduce tax liabilities for taxpayers, with ITR filings required only if gross taxable income exceeds the new threshold, except in specific conditions.
