Introduced in 2020, the new tax regime became a default regime in 2023. To be able to file tax return under the old tax ...

In 2020, the finance minister unveiled the new tax regime, which offered taxpayers the option to pay lower tax but forego ...

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 ...

Recognizing the contributions of the middle class and with an objective to eventually phase out the old tax regime, various ...

In case you are a non-resident individual or even a resident HUF, AOP or BOI you are not entitled to rebate under Section 87A ...

India’s tax system saw important updates, making the new tax regime the default for most taxpayers. While it offers lower tax rates, it removes many traditional exemptions.

The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...

FM Nirmala Sitharaman announced major income tax relief, with no tax payable on income up to Rs 12 lakh. New tax regime to be ...

The old tax regime will only be beneficial for those ... the new tax regime is beneficial as surcharge payable on your income tax is capped at 25% against 37.50% under the new tax regime in ...

In this write-up, we will analyze which tax regime — old or new — is more advantageous for individuals with an annual income ...

The new tax regime was first introduced in Union Budget 2020-21 by inserting a new section, 115BAC, in the Income Tax Act for individuals and Hindu Undivided Families (HUFs).