The Union Budget 2025 introduces a revamped tax regime, exempting individuals earning up to Rs 12 lakh annually from income ...

In a major move to ease the tax burden on middle-class taxpayers, Union Finance Minister Nirmala Sitharaman on Saturday ...

Your tax return has errors, is incomplete or affected in some way by identity theft or fraud. You'd need to fix a problem with the child tax credit. The return claimed an earned income tax credit ...

However, there was no change in tax slabs. A new tax regime was introduced in the year. Taxpayers could now choose between the old and new tax regimes. During her budget speech on July 23, 2024, ...

The new regime offers simplicity and lower tax rates, while the old regime provides benefits for those with significant deductions. Review your financial situation carefully to make an informed ...

If you make a gain after selling a property, you'll pay 18% capital gains tax (CGT) as a basic-rate taxpayer, or 24% if you pay a higher rate of tax. For other assets, such as shares, the rate depends ...

has made changes in the new tax regime only. No changes have been made to the old tax regime. Getty Images Many tax experts expect changes in the income tax slabs under the new tax regime in Budget ...

Since its launch, there has been ongoing debate and speculation about whether the government should completely scrap the Old Tax Regime or phase it out gradually. Speculation also surrounds the ...

Though the major tax relief is likely to be announced for the new tax regime, taxpayers need to know the current deductions available under the old tax regime. Here’s a comprehensive guide to the key ...

However, supporters of the regime argue that non-doms should be allowed to retain the tax relief, as having these wealthy individuals in Britain comes with benefits. If the Government abolishes ...

Taxpayers can expect changes that will make the old tax regime less beneficial than the concessional tax regime. This can happen either by restructuring the tax slabs/rates in the concessional tax ...

The old tax regime offered numerous tax deduction options under various sections that encouraged savings. While the new regime is simpler, it comes with fewer deductions. Insurance penetration remains ...