*Income Tax Budget 2025 Live* : Old Tax Regime vs New Tax Regime - All you need to know *Old Tax Regime* : 👇 Tax Slabs for Individuals Under 60: Up to Rs 2.5 lakh: 0% Rs 2.5 lakh to Rs 5 lakh: 5% Rs 5 lakh to Rs 10 lakh: 20% Above Rs 10 lakh: 30% Available Deductions: Section 80C : Up to Rs 1.5 lakh for investments in Provident Fund (PF), Equity Linked Savings Scheme (ELSS), LIC premiums, etc. Section 80D: Up to Rs 25,000 for health insurance premiums (Rs 50,000 for senior citizens). House Rent Allowance (HRA): Available for salaried individuals paying rent. Section 24(b): Up to Rs 2 lakh deduction for home loan interest. *New Tax Regime* : Tax Slabs : 👇 Up to Rs 3 lakh: NIL Rs 3 lakh to Rs 6 lakh: 5% Rs 6 lakh to Rs 9 lakh: 10% Rs 9 lakh to Rs 12 lakh: 15% Rs 12 lakh to Rs 15 lakh: 20% Above Rs 15 lakh: 30% Key Features and Recent Changes: Offers a simplified structure with reduced rates but does not allow for deductions.In the 2024 Budget, the standard deduction limit was increased from ₹50,000 to Rs 75,000. The tax benefit on employers' contributions to employees' National Pension System (NPS) was raised from 10% to 14%.Adjustments to tax slabs resulted in a tax savings of Rs 17,500 for salaried individuals. February 01, 2025 / 11:45 IST Income Tax Budget 2025 Live: Sitharaman proposes to introduce new Income Tax bill next week Income Tax news live, income tax calculator live: In her budget speech, Sitharaman proposes to introduce new Income Tax bill next week. She also said that 'Tax department will trust first, scrutinise later.' February 01, 2025 / 11:40 IST Income Tax Budget 2025 Live: Know income tax rates range in Germany Income Tax news live, income tax calculator live: In Germany, the maximum income tax rate is 45%. This rate applies to married individuals earning above 555,652 euros (approximately Rs 5 crore) and to single taxpayers with incomes exceeding 277,826 euros (roughly Rs 2.5 crore). February 01, 2025 / 11:38 IST Income Tax Budget 2025 Live: Know income tax rates range in the UK Income Tax news live, income tax calculator live: In the UK, income tax rates range from 0% to 45%, with those earning over £125K expected to pay more than 45%. In Scotland, which is part of the UK, the tax rates are slightly higher. According to the British government's official portal, Scottish tax starts at 19% for earnings above £12,571, with the maximum rate reaching 48% on income over £125,140 (approximately Rs 1.37 crore). For individuals earning between £75K and £125K, the tax rate is 45%. February 01, 2025 / 11:36 IST Income Tax Budget 2025 Live: Check out income tax rate in the US Income Tax news live, income tax calculator live: As we wait for Part B announcements, here's a look at how taxpayers are levied in other countries. According to the latest figures on IRS.gov, tax rates range from 10% to 37% depending on your income. The highest rate of 37% is applied to earnings exceeding $609K (approximately ₹5.3 crore), while individuals earning up to $58,000 are taxed at a maximum rate of 22%.