NRIs who opt for the new tax regime may get some benefits, but they are not eligible for the Section 87A rebate ...

Individuals can claim deductions under Section 80D of the Income Tax Act for the premiums paid for health insurance policies ...

Though these deductions find no place in the new tax regime, heres why some investments still deserve a place in your ...

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

FM Nirmala Sitharaman is set to present the New Income Tax Bill in the Lok Sabha today. The bill aims to simplify tax rules, ...

Budget 2025 has brought about changes to Ulips, tax on NPS Vatsalaya and for filing of updated income tax returns. Read our ...

The Union Budget 2025 introduced a significant tax relief ... limit under Section 87A, resulting in effectively zero tax. However, not all sources of income qualify for this benefit.

The income tax department has launched a simple tool to help taxpayers compare taxes under the New Tax Regime for FY 2024-25 ...

Tax on subsequent amount of 4 lakh (from 4 lakh to 8 lakh) Rs 20,000 (being 5% of Rs 4 lakh) Tax on subsequent amount of 4 lakh (from 8 lakh to 12 lakh) Rs 40,000/- (being 10% of Rs 4 lakh) Tax on ...

According to the Income Tax Department, in the new tax regime under section 115BAC(1A), marginal relief is available to resident individuals who have taxable income marginally above Rs 12 lakh.

Vide Finance Act 2022, taxation of virtual digital assets (VDA) has been introduced in the Income-tax Act, 1961 (‘the Act’), ...

The Budget 2026-27 also seeks to rationalise TDS/TCS provisions to alleviate compliance challenges and other relevant changes ...