A Study on Impact of Income Tax Slabs in FY 2024-25 for Middle Class Taxpayers

Income tax plays a significant role in shaping the financial well-being of middle-class taxpayers in India. The revision of income tax slabs for the financial year 2024–25 aims to simplify the tax structure and provide relief to taxpayers, particularly the middle-income group. This study examines the impact of the revised income tax slabs on middle-class taxpayers by analyzing changes in tax liability, disposable income, and savings behavior. The research is based on secondary data collected from government notifications, budget documents, and published reports. The study compares tax liabilities under the old and new tax regimes to understand their implications for middle-class individuals. The findings highlight how the revised slabs influence tax burden and financial planning decisions. The study concludes by assessing whether the current tax structure effectively benefits middle-class taxpayers and suggests measures for improving tax efficiency and equity.