Budget 2025 delivered sweeping tax cuts under the new, minimal-exemption regime, boosting tax savings and take-home pay. “Revision in income tax rates leads to big savings in the hands of taxpayers,he says.He switched to the new tax regime in the financial year (FY) 2025-26, netting tax savings of close to Rs.1.75 lakh per annum. “I went from paying a substantial amount as tax to zero tax, thanks to the rebate under Section 87A. Income tax return (ITR) filings using form ITR-2 surged 17% in FY 2024-25 (assessment year 2025-26) compared to a year ago. “The most important wish is that there should be no increase in longterm or short-term capital gains tax rates.

Source: Economic Times January 26, 2026 01:27 UTC