The new tax regime in India offers higher take-home salaries and lower average tax rates compared to the old regime for ...

Latest income tax slabs FY 2025-26 ... to determine the final tax liability. Unlike the old regime, the new tax regime does not allow most deductions, such as those under Section 80C or for ...

Amid the new Income Tax Bill 2025, we answer several FAQs on tax slabs, the old vs. new regime, the new income tax rules, exemption limits, and more. The new Income-Tax (I-T) Bill, announced by ...

Notably, with the amendment to section 115BAC of the Income Tax Act as effective from F.Y. 2023-2024 [A.Y. 2024-2025], the new tax regime is made as a default tax regime for persons other than ...

The Old Tax Regime requires tax planning, as taxpayers must invest in specific financial products to claim deductions. In contrast, the New Tax Regime is simpler, as it does not require tracking ...

For regular income up to Rs 12 lakh (excluding special rate income such as capital gains), taxpayers receive a tax rebate alongside benefits from reduced slab ... the old regime, the new tax ...

the proposed bill will replace the six-decade-old Income Tax Act of 1961, which has become increasingly complex and cumbersome due to numerous amendments. One of the key changes in the new law is ...

Budget 2025 income tax expectations: While it is well known that new income ... reduced slab rate in exchange for most of the exemptions and deductions otherwise available under the old income ...

There are two types of income tax slabs - one under new tax regime and other under old tax regime. What is the difference between gross income and taxable income? Gross income includes all your ...

What is the New Income ... tax compliance due to increased clarity and ease of filing. Encouragement for investment, leading to higher economic growth. Complex structure with multiple slabs ...

The changes in slabs and tax rates may sound relieving, but these new provisions will not be applicable when you file your tax return in July this year.