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In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Most small ...
As the gap between the tax rates in the old and new regimes widens, fewer individuals may find the old tax structure attractive. However, there are still specific cases where the old tax regime ...
Budget 2025 income tax: Recognizing the contributions of the middle class and with an objective to eventually phase out the old tax regime, various changes have been introduced in the new tax regime.
This comparison clearly shows that for an individual earning Rs 15 lakh per annum, the old tax regime offers a tax saving of Rs 48,100 compared to the new tax regime — provided they make ...
With the difference in tax rates growing between the two tax regimes, there are now fewer people who would go for the old tax regime now. Although the new tax regime offers concessional tax rates ...
Is there room for negotiation, or does the IRS expect you to pay back every penny that's owed on your old tax debt? Learn more about your tax relief options today. The short answer is yes ...
We are not incentivising the old tax scheme. These taxpayers will also shift to the new regime after comparison.' IMAGE: Finance Minister Nirmala Sitharaman with the Budget team. Photograph ...
One common dilemma they face is whether to continue with the Old Tax Regime or switch to the New Tax Regime. In her Budget 2025 address, FM Nirmala Sitharaman announced modifications to the new ...
The Union Budget 2025-26 has kept the tax slab rates unchanged for salaried individuals below 60 years old. The existing tax slab rates are as follows: nil for individuals earning up to INR 2.5 ...