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 and will have to pay tax at the slab rates under the new tax regime on ...

There is no change in old tax regime. All the benefits like HRA, Housing Loan, Insurance Premium, etc., are still available.

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

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

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 ...

Budget 2024, which was announced in July 2024, had reduced the surcharge applicable ... to adopt New Tax Regime and saying goodbye to our very Old Tax regime. The below table analyses tax ...

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 ...

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

Cess (4%) and surcharge (if applicable ... In this write-up, we will analyse which tax regime — old or new — is more beneficial for individuals with an annual income of up to Rs 15 lakh.

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 ...

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 highest surcharge was cut down from 37 per cent to ...