Budget 2025: Tax-free income limit under new regime rises to Rs 12 lakh

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Budget 2025: Tax-free income limit under new regime rises to Rs 12 lakh - Business Standard

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Section 87A has been amended to offer a rebate of Rs 60,000, up from Rs 25,000,” says Suresh Surana, a Mumbai-based chartered accountant.

The removal of tax-saving deductions may, however, reduce long-term savings.“People may spend more but save less, leading to financial insecurity in the future,” says Jain.

These changes will translate into nil tax liability for income up to Rs 12 lakh.“For salaried individuals, the nil limit will rise to Rs 12.75 lakh, thanks to the standard deduction of Rs 75,000.