Budget 2025: Salaried Employees Eye Major Tax Relief, Higher Exemptions

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 on February 1, with salaried employees eagerly anticipating significant tax relief. Key expectations include a potential increase in the basic exemption limit to ₹5 lakh under the new tax regime, expansion of the tax rebate scope under section 87A, and a possible hike in standard deduction to ₹1 lakh or more. These changes aim to boost disposable income and stimulate economic growth by encouraging consumer spending. Taxpayers are also hoping for simplified compliance processes and targeted incentives for long-term savings.
Source: Latestly