The Finance Minister did not mention the old tax regime during her speech and the Budget document, too, is silent on it. The document, however, specifies that the revised tax slabs apply to those ...
Finance Secretary Tuhin K Pandey expects all taxpayers to migrate to the new tax regime by the end of the next fiscal. Pandey ...
it is quite tempting for the taxpayers now to choose a new tax regime over the old tax regime. Sample this: If your income is ₹12.75 lakh, income tax in the new tax regime is 0 whereas in the ol ...
Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant income tax relief for the middle class in the Union Budget 2025, eliminating ...
The new tax regime, which is likely to replace the old tax regime, does not allow any exemption on investment. However, this offers lower tax rates to a large number of people. “The proportion ...
Budget 2025 offers ₹60,000 rebate for incomes up to ₹12 lakh under new tax regime. (Representational image)(REUTERS) This makes the old tax regime, which has 5 per cent, 20 per cent ...
The budget’s biggest, shiniest takeaway: no tax on income up to ₹12 lakh. Union finance minister Nirmala Sitharaman’s announcement was met with much cheer and enthusiastic number-crunching ...
The old tax regime, which has been in place for decades, allows taxpayers to claim deductions and exemptions under sections like 80C, 80D, and HRA, among others. (Image: Freepik) A day ahead of ...
New Tax Regime vs Old Tax Regime Slabs and Rates: Finance Minister Nirmala Sitharaman has announced significant income tax relief for the middle class in the Union Budget 2025. Budget 2025 New Tax ...
Most personal tax experts are of the view that the government will phase out the old income tax regime in the coming years. However, they are divided on how soon. Budget 2025 income tax ...
Income Tax Exemption Limits However, the old tax regime will be same as earlier. Here are the slabs till now: The existing tax brackets under the Old Tax Regime remain in effect for the financial ...
What Are The New Tax Slabs? The tax slabs under the new regime have been revised in Budget 2025. A salaried individual will pay zero tax for annual income up to Rs 4 lakh. In the Rs 4 lakh - to Rs ...