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

The government provides a Rs 75,000 standard deduction in the new tax regime benefiting salaried individuals and pensioner by ...

The new tax regime simplifies income tax, but with fewer deductions in play, taxpayers must make the most of the available ...

In Budget 2025, the government opted not to modify the existing tax regime or introduce any new deductions. Finance Minister ...

For individuals earning Rs 15 lakh annually, opting for the old tax regime can result in tax savings of up to Rs 48,100, ...

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 ...

This means the tax computation takes place under the new tax regime, and if someone wants to file returns under the old tax regime ... the benefit of standard deduction was extended to the ...

Individuals earning up to Rs 12,00,000 per annum exempted from income tax; salaried taxpayers get additional Rs 75,000 ...

Despite the removal of many benefits, certain allowances remain exempt under the new tax regime, providing some relief to ...

Taxpayers must compare deductions under the old regime versus the ... which are not allowed under the new tax regime) are less than Rs 8 lakh (excluding standard deduction).

This restructuring aims to simplify taxation, while the Old Regime ... as raising the tax-free income limit to Rs 12 lakh, adjusting tax brackets, and introducing a standard deduction of Rs ...

The income tax department has launched a simple tool to help taxpayers compare taxes under the New Tax Regime for FY 2024-25 ...