Budget 2025 Kicks Off Today: Major Tax Changes Unveiled

The new financial year 2025-26 has started from 1 April 2025. The tax changes announced in Budget 2025 will come into effect from today. At the same time, there will be changes in many rules as well. Apart from this, the prices of LPG, PNG and petrol-diesel are changed on the first of every month.

Tax Revolution Begins

Changes will be made in TDS, TCS and tax slabs regarding tax. Now under the new tax regime, up to Rs 12 lakh will be tax free. Let us know about these changes related to tax one by one. What will be the major changes related to tax 1. Changes regarding TDS The central government had announced to change many rules regarding TDS in Budget 2025. Under this announcement, the limit of tax exemption regarding TDS in many sectors will increase.

Budget 2025 hits today

Senior Citizens- Earlier, senior citizens were exempted from TDS up to Rs 50,000 on their earnings. Which has now been increased to Rs 1 lakh.

Exemption in professional service- Earlier, TDS was exempted up to Rs 30,000 on income from professional service. Which has now been increased to Rs 50,000.

TDS on rent- The landlord has to pay TDS on the income from rent. The tax exemption limit in this has been increased from Rs 2.4 lakh to Rs 6 lakh.

2. TCS limit also increased. TCS is levied as tax on money transfers sent abroad. Earlier, up to Rs 7 lakh could be sent without any tax. The limit has now been increased to Rs 10 lakh. 3. Capital gain tax will also be levied on ULIP
Now, capital gains tax will have to be paid in ULIP i.e. Unit Linked Insurance Plan. Under this plan, some amount of investment is invested in the stock market.

If you invest more than Rs 2.5 lakh in the plan in a year, then you will have to pay tax on the income earned from it.
If this income is earned after more than 1 year, then 12.5 percent tax will have to be paid.

On the other hand, if the earning is done after a period of less than 1 year, then 20% tax will be levied under Short Term Capital Gain Tax.

Income up to Rs 12 lakh is tax free
The new tax regime is going to be implemented from today itself.
Under the new tax regime, now your income up to Rs 12 lakh will be tax free.
The government has also made changes in its tax slab.
Along with this, benefits like old tax regime like Section 80C will not be available