The new Income Tax Bill will replace the current Income Tax Act, once it becomes effective from April 1, 2026. However, many ...

In the Budget 2025, Finance Minister Nirmala Sitharaman increased the income tax rebate limit from Rs 7 lakh to Rs 12 lakh in ...

The new Income Tax Bill, tabled today in the Lok Sabha, retains all the deductions and exemptions but under a new section ...

The old tax regime, which remains unchanged in the 2025 Budget, allows taxpayers to claim various exemptions such as House Rent Allowance (HRA), deductions under Section 80C (like for life insurance ...

India follows a progressive tax system, meaning your tax rate increases as your income rises. To simplify, income is divided into different slabs, each attracting a specific tax rate. Here’s how the ...

Thanks to generous rebates announced, individuals earning up to ₹12 lakh an annum will not be required to pay any tax on ...

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

The government on Saturday explained how the tax reforms, proposed under the new income tax slabs, will benefit the middle ...

The new tax regime allows a salaried individual to claim a standard deduction of Rs 75,000 from the salary income. There is ...

In the Union Budget 2025, Finance Minister Nirmala Sitharaman is expected to adjust the personal income tax rules under the ...

India's Union Budget 2025-26 has introduced personal income tax changes under the new regime to spur middle-class spending & ...

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 ...