Wed Jan 29 00:49:01 IST 2025: ## Income Tax Changes Expected in India’s 2025 Budget
**New Delhi, Jan 31, 2025** – India awaits the unveiling of its 2025-26 Union Budget on Saturday, February 1st, at 11 am. Finance Minister Nirmala Sitharaman is expected to announce significant changes to the income tax system, generating considerable anticipation among taxpayers and experts.
Key expectations include revisions to the income tax slabs within the new tax regime and increases in various tax exemptions. Taxpayers are also hoping for the inclusion of voluntary National Pension System (NPS) contributions as a deduction under the new regime, along with higher permissible deductions for health and life insurance premiums. The government’s response to these widespread expectations will be revealed in the upcoming budget presentation.
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