
- Name: Nirmala Sitharaman
- Born: 18 August 1959 (age 65 years), Madurai
- Previous offices: Minister of Defence of India (2017–2019), Member of Rajya Sabha (2014–2016)
- Spouse: Parakala Prabhakar (m. 1986)
- Children: Parakala Vangmayi
- Education: Jawaharlal Nehru University (1984), Seethalakshmi Ramaswami College (1977–1980) · See more
- Office: Minister of Finance of India since 2019
- Party: Bharatiya Janata Party
New Tax Regime 2025
According to the Budget Memorandum, the income limit for rebate under Section 87A has been increased from Rs 7,00,000 to Rs 12,00,000 for taxpayers under Section 115BAC(1A). Additionally, the rebate amount under clause (a) of the first proviso to Section 87A has been raised from Rs 25,000 to Rs 60,000.
As of the budget 2025
- New Tax Slab Changes Live
Income-tax slab | Income-tax rate |
Rs 0-4 lakh | Nil |
Rs 4-8 lakh | 5% |
Rs 8-12 lakh | 10% |
Rs 12-16 lakh | 15% |
Rs 16-20 lakh | 20% |
Rs 20-24 lakh | 25% |
Over Rs 24 lakh | 30% |