The proposed changes could substantially increase the disposable income available to both middle-class and high-income ...

Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant ...

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 ...

India's tax policy has evolved significantly since the 1970s, when Prime Minister Indira Gandhi's government imposed a 97.5% ...

What if you earn more than Rs 12.75 lakh? Should you pick the new tax regime for lower rates or stick to the old one for ...

Multifarious Key Taxation Laws and Rules: The Indian taxation system is governed mainly under the Income Tax Act, 1961, with relevant sections being: Section 4: General Taxability. Section 90: ...

You rely on major deductions like HRA ... to provide a significant boost to consumption in the Indian economy through personal income tax cuts and higher disposable incomes of the middle class.

Individuals can claim deductions under Section 80D of the Income Tax Act for the premiums paid for health insurance policies ...

The Government of India levies tax upon the income of salaried and self-employed citizens of all age groups. Once you figure out which tax slab you fall under as per your tax regime, it becomes easier ...