Finance Minister Nirmal Sitaram presented budget on Feb 01,2025. The Budget proposed New Income slabs for FY 2025-26. The proposed Income Tax slabs are follows.
| Income Tax slabs | Rate of tax |
| Upto 4,00,000 | Nil |
| 4 lacs to 8 lacs | 5% |
| 8 lacs to 12 lacs | 10% |
| 12 lacs to 16 lacs | 15% |
| 16 lacs to 20 lacs | 20% |
| 20 lacs to 24 lacs | 25% |
| Above 24 lacs | 30% |
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