Will middle-class taxpayers breathe a sigh of relief

Income Tax Slabs 2025-26 Live Updates: Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 today. Experts expect potential reforms, from tax rate cuts to an overhaul of the system, aimed at boosting consumption, simplifying taxation, and driving economic growth.Income Tax Slabs 2025-26 Live Updates: Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 today. Individual taxpayers, who saw minimal changes in the July 2024 Budget, are hoping for relief measures to ease financial strain and boost savings.The dual tax regime—Old Tax Regime (OTR) and New Tax Regime (NTR)—offers flexibility but also creates confusion. While the new regime has lower rates and a simplified structure, it lacks deductions that many rely on to reduce taxable income. Meanwhile, the old regime allows exemptions and deductions but comes with higher tax rates.Experts expect potential reforms, from tax rate cuts to an overhaul of the system, aimed at boosting consumption, simplifying taxation, and driving economic growth.

Source link