Income Tax Slabs 2025 Live: No income tax till Rs 12 lakh under New Tax Regime, says Sitharaman Income Tax Slabs for AY 2025-26: TDS threshold from Rs 50,000 to Rs 1 lakh for senior citizens, says Sitharaman Income Tax Budget, Income Tax Slabs for AY 2025-26 Latest News Today: In a major boost for the middle class, Finance Minister Nirmala Sitharaman announced a massive taxation reform in Union Budget FY26 today. In the Part B announcements, Sitharaman said that there will be no income tax up to Rs 12 lakh per annum under New Tax Regime. Income Tax Slabs 2025 Live: Income Tax Exemption Limits 2005: Rs 1 lakh 2012: Rs 2 lakhs 2014: Rs 2.5 lakhs 2019: Rs 5 lakhs 2023: Rs 7 lakhs 2025: Rs 12 lakhs