Hello,

Welcome to Paisa Monk → No non-sense finance content for middle class Indians!

This is article #5. Read my previous posts here:

• Good loans vs Bad loans

• Investing at young doesn’t make you rich!

• A to Z of Emergency Funds

• Read this before you take LIC policy

As new financial year-FY 2025-26-began on April 1. With this transition, several key personal finance rule changes will take effect, impacting taxpayers, salaried individuals, and bank customers across India.

I have curated the most important ones for you and here are the important financial changes you should be aware of before it is too late.

1. New Income Tax Rules

Union Finance Minister Nirmala Sitharaman, in the Budget 2025 announcement, introduced revised tax slabs that will benefit many taxpayers. Here’s what changes from April 1:

• Tax-Free Income Limit: Individuals earning up to ₹12 lakh per year will no longer need to pay income tax under the new tax regime.

• Higher Standard Deduction: Salaried employees will get a ₹75,000 standard deduction, effectively making ₹12.75 lakh tax-free.

• Revised Tax Slabs: The new tax slabs will be applicable from FY 2025-26, ensuring better tax relief for middle-class earners.

If you haven't yet planned your taxes based on these changes, now is the time to do so!

I’ll create a detailed post on this topic in coming weeks. Stay tuned.

2. UPI Rule Changes