Hike basic exemption limit to Rs 5 lakh, cut income tax rates, further reduce number of TDS rates in Budget 2025: EY

Income tax slab expectations: EY has released a press release urging the government to announce certain measures in Budget 2025 to boost consumption and accelerate India's growth. Some of these measures are hiking the basic exemption limit to Rs 5 lakh in the new tax regime, sorting out anomalies in the new capital gains tax regime, etc.