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Tax on subsequent amount of 4 lakh (from 4 lakh to 8 lakh) Rs 20,000 (being 5% of Rs 4 lakh) Tax on subsequent amount of 4 lakh (from 8 lakh to 12 lakh) Rs 40,000/- (being 10% of Rs 4 lakh) Tax on ...

Once you figure out which tax slab you fall under as per your tax regime, it becomes easier to calculate and file taxes, evade charges, and avail of deductions or exemptions accordingly.

*Note- No deduction available except mentioned below. Standard Deduction U/s 16(ia) upto Rs.75,000/-Family Pension U/s 57(iia) upto Rs.25,000/-Deposited in the Agniveer Corpus Fund u/s 80CCH(2) Rebate ...

EY India’s analysis indicates that taxpayers opting for the new tax regime in FY 2024-25 will benefit further in FY 2025-26 due to the revised slabs. Shalini Jain, tax partner at EY India, said the ...

Commissions do not affect our editors' opinions or evaluations. Live Oak Bank is ideal for savers and small business owners. It offers two personal banking products—savings accounts and ...

To the relief of middle-class tax payers, Finance Minister Nirmal Sitharaman announced a new tax slab during the Union Budget 2025-26 presentation, increasing the income tax exemption limit to Rs ...

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Summary: Budget 2025 introduces significant changes to income tax slabs under the new tax regime for individuals. Key highlights include tax-free income up to ₹4,00,000, and progressive tax rates ...

Finance Minister Nirmala Sitharaman in her Union Budget 2025 speech today announced a new tax slab that has been refreshed across the board. Under the new regime, there is no tax on income up to ...