Income tax to remain unchanged for two years

The rate of income tax will remain the same for FY2024-25 and FY2025-26, a source at the finance ministry said ahead of unveiling the proposed national budget for fiscal year 2024-25 on Thursday. 

This measure is being taken to improve taxpayers' faith and encourage more investment. The government hopes that keeping the income tax unchanged for two fiscal years will help taxpayers plan better, the source said.