Sat Feb 01 22:27:49 UTC 2025: ## India Announces Significant Income Tax Cuts in 2025-26 Budget

**NEW DELHI** – Finance Minister Nirmala Sitharaman today unveiled the 2025-26 Union Budget, featuring substantial revisions to income tax slabs. The new tax regime, now significantly more attractive, offers a tax-free threshold of ₹12,00,000 (approximately $145,000 USD) for individuals. Salaried individuals choosing this new regime will enjoy a higher tax-free limit of ₹12,75,000 (approximately $154,000 USD). Furthermore, the Section 87A rebate, a deduction for lower-income earners, has been boosted to ₹60,000 (approximately $7,200 USD). This marks a considerable easing of the tax burden for a large segment of the Indian population. The announcement is part of Sitharaman’s eighth consecutive budget presentation.

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