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

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 ...

"Choosing Old or New Tax Regimes can be confusing, but income tax calculator can help you make a right decision by comparing ...

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 ...

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 ...

New Tax Regime Calculations: In Budget 2025, Finance Minister Nirmala Sitharaman proposed new tax regime income tax slabs. Once the slabs come into ... and Rs 28 lakh in old and new tax regime ...

Substantial reduction in the Act’s volume The review has led to a substantial reduction in the Act’s volume, making it more streamlined and navigable. Key reductions are: The proposed New Income Tax ...

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.

We have also shared a table comprising the comparison between the old and new Income Tax Bills ... Complex structure with multiple slabs and higher tax rates Simplified structure with fewer ...

The employee’s contribution is taxable but is also eligible for deduction under Section 80C in the old tax regime. However, this is not valid with the new tax regime. Concerning the National ...