April 1, 2025: New Income Tax Slabs, UPI Rules, and TDS Thresholds; 30% tax rate above Rs 24 lakh.

From April 1, 2025, significant changes in income tax slabs, UPI regulations, and TDS thresholds are set to be implemented in India. Individuals earning above Rs 24 lakh will now fall under the highest tax bracket of 30%. Moreover, there will be adjustments in the TDS thresholds for interest income. Additionally, the introduction of the Unified Pension Scheme is on the horizon, while the rates for existing small savings schemes will remain constant. These modifications aim to streamline the tax system and enhance financial planning for residents in India.

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