Union Budget 2025: Key Takeaways & Insights with Dhirendra Kumar

No mention of the old tax regime, but under the new regime, the tax slabs have been revised. Can you please explain what difference this makes to a common taxpayer? You have more money if you earn Rs 12 lakh now. Based on my basic calculation, even assuming you are making Rs 12 lakh a year and aren't liable for any tax. Your earlier tax liability was Rs 78,750, which means you will have that extra amount with you. Likewise, at every stage, it translates into a similar benefit. If you earn Rs 15 lakh a year, your previous liability was Rs 1,35,000. That has now reduced to Rs 93,750 - about Rs 41,000 more. On Rs 20 lakh, it's similar - around Rs 98,000 to Rs 99,000. And for Rs 25 lakh, the tax liability was Rs 4,27,000, which is now reduced to Rs 3,07,000. Now, it is up to you whether you want to spend it or invest it. You might have had a long-standing desire to spend on something but use it as an opportunity to invest. It is a way for individuals to take their finances into their own hands. The government has given you these benefits. But now all the tax benefits you used to receive are gone. In this new tax regime, there are no concessions or incentives. You are saving money, and it is up to you to save, invest, or consume. It is about time people became more serious about investing. For many, tax-saving investments were triggered by the tax season a

This article was originally published on February 01, 2025.