India's Budget 2025: Nil Tax Slab Soars to ₹12 Lakh, Empowering Middle-Class Taxpayers

India's Union Budget 2025 has made a significant move by raising the nil tax slab to 12,00,000 rupees, providing substantial relief for middle-income earners. This adjustment aims to enhance disposable income and stimulate consumer spending amid economic challenges. Additionally, the government is expected to simplify tax compliance through the introduction of the Direct Tax Code 2025, which will streamline outdated provisions. These reforms reflect a commitment to bolster economic growth and support taxpayers in navigating the financial landscape. 

 

Source: Financial Express.