Speculations are rife that tweaks could be made to the new tax regime—through changes in taxation rate or revision in tax slabs—to raise the disposable income.

FM Sitharaman's speech last Budget hinted at this new tax law when she said the goal was to simplify the income tax laws and cut the Income Tax Act, 1961's page-count by as much as 60 per cent.

The Union Budget 2025 will be read out in a couple of hours. Individuals in India pay various taxes that range from income ...