Budget 2025 income tax: From income tax slab & rate changes to hike in standard deduction, exemption limits

Budget 2025 income tax expectations: What will the income tax slabs and income tax rates after Union Budget 2025? Will FM Nirmala Sitharaman raise the standard deduction further under the new income tax regime and include popular exemptions like Section 80C, HRA, Section 80D? With the new income tax regime becoming the default tax regime, tax experts believe that no major changes in the old tax regime should be expected. Any rationalisation in income tax slabs, rates and changes in basic exemption limit, rebate etc. can only be expected under the new income tax regime. With that in mind, we take a look at the top 10 income tax expectations of salaried taxpayers and common man from Budget 2025: