Income Tax: Good news for salaried people! Now only Rs 25,000 will be taxed on income of Rs 13 lakh, check calculation

Income Tax Budget 2025: There is big news for salary class taxpayers. The salaried class does not have to pay any tax on salary up to Rs 13.05 lakh, not Rs 12 lakh. Here we are telling you how no tax will have to be paid on annual salary up to Rs 13.05 lakh

Income Tax Budget 2025: There is big news for salary class taxpayers. The salaried class does not have to pay any tax on salary up to Rs 13.05 lakh, not Rs 12 lakh. Here we are telling you how no tax will have to be paid on annual salary up to Rs 13.05 lakh. Finance Minister Nirmala Sitharaman has given a big relief to the taxpayers in the budget. Presenting the Union Budget 2025 on Saturday, the Finance Minister announced that now there will be no income tax on income up to Rs 12 lakh. This limit increases to Rs 12.75 lakh on including standard deduction. Now add margin relief to this. If you fall under the tax slab, you do not have to pay tax on the entire amount. Rather, you have to pay tax only on the higher amount. Currently, the margin relief is Rs 30,000.

Income more than Rs 13 lakh but less tax

People earning salary up to Rs 13.05 lakh can take advantage of this, because they will get standard deduction of Rs 75,000 and marginal relief of about Rs 30,000. That means you will not have to pay any tax on salary up to Rs 13.05 lakh. CA Abhishek Aneja told Moneycontrol Hindi that when someone changes the tax slab, marginal relief is given to the taxpayers so that the tax burden does not increase suddenly. Currently, this marginal relief is Rs 30,000. This means that after the salary of Rs 12 lakh is tax free, if you add a standard deduction of Rs 75,000 to it, then the total becomes Rs 12.75 lakh. Now if you add a margin relief of Rs 30,000 to it, then you will not have to pay any tax on Rs 13.05 lakh.

Know here how much tax has been reduced on salaries of Rs 12 lakh, 15 lakh, 18 lakh, 20 lakh and 50 lakh

Now income tax has been reduced so much on the new tax regime (Income Tax new slab on New tax Regime)

• Tax on a salary of Rs 12 lakh will become zero. It was Rs 80,000 earlier.
• Tax on a salary up to Rs 13.05 lakh will become zero. It was Rs 80,000 earlier. By combining standard deduction and marginal relief, salary class taxpayers will not have to pay tax on annual income of Rs 13.05 lakh.
• A tax of Rs 50,000 will be saved on a salary of Rs 16 lakh. Earlier, a tax of Rs 1.70 lakh was levied on this salary, which has been reduced to Rs 1.20 lakh.
• A tax of Rs 70,000 will be saved on a salary of Rs 18 lakh. Earlier, a tax of Rs 2.30 lakh was levied on this. Now, a tax of Rs 1.60 lakh will be levied.
• A tax of Rs 90,000 will be saved on a salary of Rs 20 lakh. Earlier, a tax of Rs 2.90 lakh was levied on a salary of Rs 20 lakh, but now, it has been reduced to Rs 2 lakh.
• A tax of Rs 1,10,000 will be saved on a salary of Rs 24 lakh. Earlier, a tax of Rs 4.10 lakh was levied on this salary. Now, a tax of Rs 3 lakh will be levied.
• A tax of Rs 1,10,000 will also be saved on a salary of Rs 50 lakh. Earlier the tax on this was Rs 11.90 lakh. Now, it will be reduced to Rs 10.80 lakh.

New tax slab in New Tax Regime (New Tax Regime – New Tax rate FY 2025-26)

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