Budget 2025 income tax slab changes 2025-2026 explained: All income tax slabs and rate changes have been announced under the new income tax regime - and the biggest takeaway is that an individual earning Rs 12 lakh will have to now pay NIL or ZERO tax under the new regime. So, if you are a salaried taxpayer with income up to Rs 12.75 lakh, then including the Rs 75,000 standard deduction, your income tax outgo will be 0!