Introduced in 2020, the new tax regime became a default regime in 2023. To be able to file tax return under the old tax ...

Union Finance Minister Nirmala Sitharaman on Saturday announced a major relief for the salaried class. The salaried class ...

The government today cut personal income tax rates for some sections of taxpayers in a bid to boost consumption.

Here’s a breakdown of what you can still claim under the revamped system. For salaried individuals who opt for the new tax regime, there’s a standard deduction of ₹75,000. Additionally, ...

New system's simplicity, reduced tax liability, increased disposable income potential 'make it a formidable alternative' ...

Are you left scratching your head about the changes in tax slabs in the new regime announced in Union Budget 2025? Wondering ...

The tax rebate extends up to Rs 12.75 lakh when factoring in standard deductions under the new tax regime, making it the most ...

Ans. Earlier the limit of income for nil tax payment was Rs 7 lac. By increasing this limit to Rs 12 lakh around one crore assessees who were earlier required to pay tax varying from Rs 20,000 to Rs ...

A standard deduction is quite easy to avail. The income tax assessee practically has to do nothing to claim this deduction as long ... pensions—under the old income tax regime. Standard Deduction ...

The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...

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 ...