The current income tax bill which was enacted in 1961, and came into effect in 1962, consisted of 512,535 words and 819 ...

Amid the new Income Tax Bill 2025, we answer some FAQs on tax slabs, old vs new regime, the new income tax rules, exemption ...

The new tax regime has become quite attractive for the middle-class taxpayers. In FY 2023-24, around 74 percent of taxpayers opted for the new regime. There is an expectation that nearly 90 percent of ...

Tax rebate will be provided to those earning up to ₹12 lakh under the new tax regime. In the Union Budget 2025, Finance Minister Nirmala Sitharaman mentioned that the ‘nil income tax’ slab w ...

In the new tax regime, the 30 per cent tax slab remained frozen at Rs 15 lakh since 2020. Under the old regime, the 20 per cent and ... taxpayers who claim deductions and exemptions, the difference ...

Under the new tax regime, individuals earning 24 lakh rupees or more annually could save one lakh ten thousand rupees in income tax, while those with an income of twelve lakh rupees will pay no ...

Budget 2025 offers ₹60,000 rebate for incomes up to ₹12 lakh under new tax regime. (Representational image)(REUTERS) This makes the old tax regime, which has 5 per cent, 20 per cent ...

Since the difference between the basic exemption limit under the old and new tax regime is Rs 1.50 lakh, which is the amount of deduction available under Section 80C, even for those who claim ...

The new tax regime offers zero tax up to ₹12 lakh, alongside simplified slabs that could save you up to ₹1 lakh in taxes. Shalini Jain, Tax Partner, EY, breaks down the key announcements, comparing ...

New Delhi: Union Finance Minister, Nirmala Sitharaman's eighth consecutive Budget is the relief for middle-class salaried taxpayers, though the revised tax slabs have left many confused about the ...

The new tax regime, which is likely to replace the old tax regime, does not allow any exemption on investment. However, this offers lower tax rates to a large number of people. “The proportion ...