Budget 2025: Tax-free income limit under new regime rises to Rs 12 lakh
Union Finance Minister (FM) Nirmala Sitharaman, who presented her eighth consecutive Union Budget on February 1, streamlined ...
Has Section 80C deduction limit hiked? Check how much tax you can save after Union Budget 2025
No hike has been announced in the Section 80C deduction limit in Budget 2025. Deduction under Section 80C of the Income Tax Act is available under the old tax regime only. For the upcoming fiscal year ...
Income Tax Slab For [FY 2025-26]
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 ...
Tax Slab Expectations: Meaningful tax relief, basic exemption limit to Rs 5 lakh, slash number of TDS rates in Budget 2025
The current income tax slabs introduced for FY 2024-25 were designed to alleviate the tax burden on average taxpayers.
New Tax Regime – Which Tax Benefits Will Be Gone In 2025?
Introduced in the Union Budget 2020, the new tax regime offers significant reductions in tax rates, but limits the ...
New Tax Regime 2025: These exemptions, deductions will be available for taxpayers
In the Budget 2025, Finance Minister Nirmala Sitharaman increased the income tax rebate limit from Rs 7 lakh to Rs 12 lakh in the New Tax Regime. Effectively, individuals earning up to Rs 12 lakh will ...
No tax on income up to ₹12 lakh. Are NRIs eligible?
NRIs who opt for the new tax regime may get some benefits, but they are not eligible for the Section 87A rebate ...
Tax Guru8d
FAQS on Section 115VP Time Limit Extension for Tonnage Tax Orders
Section 115VP of the Income-tax Act allows qualifying shipping companies to opt for the tonnage tax scheme by applying to the jurisdictional Joint Commissioner of Income-tax. Currently, the Joint ...
Live Law3d
Superannuation Fund | Limit On Deduction Of Employer's Contribution Applies To Initial/ Annual Contribution, Not Additional Payments: Delhi HC
The Delhi High Court has held that the limit prescribed under Section 36(1)(iv) of the Income Tax Act 1961, on deductions ...
Financial Advisor10d
An Expanding Category Of ETFs Built To Limit Taxes
Now, a new category of ETFs aims to cut investors’ tax bill even further by using IRS Section 351. A Section 351 conversion lets investors move assets, including appreciated separately managed ...