New Financial Year 2025 , new tax laws: Today marks the beginning of the new financial year 2025 -26. With the new year, a lot of changes are effective. This includes new income tax slabs and other new tax laws, such as tweaks in ULIPs taxation, no higher TDS for non-ITR filers etc. Know the eleven tax changes are effective from today. income tax slab rates define how much tax the individuals should pay for different income groups. The income tax slabs relaxation is the biggest relief brought in the financial year 2025 -26, greatly reducing the tax liability for many. Other added benefits come from higher rebate limit and TDS threshold limits. Key Highlights Tax slab changes under the new regime for FY 2025 -26: Income up to Rs. 12 lakhs made zero- tax due to an increased rebate of Rs. 60,000. Basic exemption limit extended ... New Income Tax Slab replaces current Income Tax Act, from April 1, 2026. Check Latest Income Tax Slabs & Rates for FY 2025 -26, Compare the New & Old Tax Regimes. The Budget 2025 introduced some major changes to the Income Tax Act 1961 to simplify the tax structure in India. These changes will come into effect on 1st April 2025 and will be relevant from FY 2025 -26 onwards. This article will cover all major changes that one must be familiar with to plan one's finances for FY 2025 -26 accordingly. What Are The Income Tax Changes For FY 2025 -26? 1. Income Tax Slabs for FY 2025 -26 (AY 2026-27) The Budget 2025 proposed new tax slab rates under section ...
