Whos Tax Plan Are We Under In 2025. Standard deduction for salaried employees increased to rs 75,000. President joe biden 's top economic advisor on thursday unveiled plans to address trillions of dollars in expiring tax breaks enacted by former president donald trump.
Income above rs 15 lakh taxed at 30%. Under the existing regimes of personal income tax, rates and slabs for the new income tax regime range from zero to 30 per cent.