In a massive relief to the middle class, union finance minister Nirmala Sitharaman on Saturday announced an increased income tax exemption for income up to ₹12 lakh per annum. This means that people who earn under ₹12 lakh per annum will not have to pay any taxes.

LIVE: During the Union Budget 2025 announcements, Finance Minister Nirmala Sitharaman said that under the new tax slabs, over one crore taxpayers will be exempt from paying taxes

Finance Minister Nirmala Sitharaman reveals income tax cuts for the middle class, raising exemption thresholds and benefiting millions of taxpayers.