Many taxpayers preferred the old tax regime because it allowed them to claim deductions for expenses like house rent, home ...

In case you are a non-resident individual or even a resident HUF, AOP or BOI you are not entitled to rebate under Section 87A ...

Finance Minister Nirmala Sitharaman has announced important changes for the salaried class in Budget 2025. Under the new tax ...

What if someone earning above Rs 12.75 lakh annually chooses the old regime and claims the maximum deductions? Will it result in tax savings? This article explores the key deductions available under ...

Most personal tax experts are of the view that the government will phase out the old income tax regime in the coming years.

The Union Budget 2025-26 has kept the tax slab rates unchanged for salaried individuals below 60 years old. The existing tax slab rates are as follows: nil for individuals earning up to INR 2.5 ...

However, there are still specific cases where the old tax regime could be more beneficial. Employees receiving a substantial house rent allowance (HRA), especially those getting up to Rs 1 lakh ...

The big question remains—should taxpayers still consider the Old Tax Regime? Previously, individuals claiming substantial ...

In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Most small ...

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 ...

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 ...

Union Finance Minister (FM) Nirmala Sitharaman, who presented her eighth consecutive Union Budget on February 1, streamlined ...