BUDGET 2025

5 INCOME TAX CHANGES TO EXPECT IN NIRMALA SITHARAMAN'S BUDGET SPEECH

Published By Livemint | 12 Jan, 2025

Income tax slab rate

There is talk that the government may change the income tax slab under the new tax system.
Credit : Pixabay

Special tax for senior citizens under new regime

The new tax slabs are uniform for all taxpayers, regardless of age. In the old tax regime, the basic exemption limit for senior citizens was ₹3 lakh; for super senior citizens, it was ₹5 lakh.
Credit : Mint

Standard deduction

There is also talk of increasing the standard deduction for salaried individuals.
Credit : Mint

Import duty on gold

The government might increase the import duty on gold to address concerns about the trade deficit and reduce excessive imports.
Credit : Mint
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