Union Budget 2025: What to Expect on Tax Exemptions and Deductions

The Union Budget is just around the corner, and many are curious about the changes it will bring. Some people are hoping for tax exemptions that could help workers and improve the economy.

A common question is whether there will be changes in the tax slabs, or if the standard deduction will be increased. These changes could affect how much tax people pay, and many are eagerly waiting for answers.

There is also talk about changing the old and new tax systems. In 2020, the government introduced a new tax system, and since then, the old system has not been changed.

The new system has lower tax rates and is easier to understand, which is why many people have chosen it. Some believe the government might remove the old tax system in this budget.

Experts have different opinions. Some think the new system is better and should be kept. Others worry that removing the old system might cause problems, especially for people who have planned their taxes for the long term.

For now, we can only guess what will happen. We’ll have to wait and see what the government decides.