CBDT Releases FAQs On Changes Proposed By FM Nirmala Sitharaman In Budget 2025-26

The Central Board of Direct Taxes (CBDT) has issued the FAQs on the changes proposed by Union Finance Minister Nirmala Sitharaman in Budget 2025-26.

The Board has pointed out both the income tax slab rate under the new regime and proposed new regime introduced by Finance Bill, 2025.

The Finance (No.2) Act, 2024 had the following slabs in the new tax regime for person, being an individual or Hindu undivided family or associa􏰀on of persons [other than a co- operative society, or body of individuals, whether incorporated or not, or an artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 

The new slabs proposed are as under:

The Board has clarified that in the proposed new tax regime, the maximum total income for which tax liability for individual taxpayers is NIL is Rs. 12 lakhs.

New tax regime is applicable to person, being an individual or Hindu undivided family or association of persons [other than a co-operative society], or body of individuals, whether incorporated or not, or an artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2. Accordingly, change in tax slabs will benefit all these persons.

Read More: FM Proposes TDS Or TCS Rationalization For Easing Difficulties, But Higher TDS Applicable For Non-PAN Holders

Mariya Paliwala
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

FM Sitharaman Chairs 29th FSDC Meeting in Mumbai; Calls for Faster Refunds and Seamless KYC Across Financial Sector

Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, chaired the…

Jagdeep Dhankhar Resigns as Vice President of India, Cites Health Reasons [READ RESIGNATION]

Jagdeep Dhankhar has resigned from the post of Vice President of India…

Exports Now Allowed from Anywhere, Not Just SEZs, Says Finance Minister

Union Finance Minister Nirmala Sitharaman on Tuesday said that India’s export strategy…

DGFT Operationalises Global Tariff And Trade Helpdesk [READ NOTICE]

The Directorate General of Foreign Trade (DGFT) has issued the trade notice,…