Since its introduction, the government has actively promoted the new tax regime, citing its reduced compliance burden for ...

The new tax regime is now the default for taxpayers in FY 2023, allowing lower tax slabs but eliminating old deductions.

The Union Budget 2024 increased the standard deduction from Rs 50,000 to Rs 75,000 under the new tax regime, simplifying tax ...

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 ...

Multifarious Key Taxation Laws and Rules: The Indian taxation system is governed mainly under the Income Tax Act, 1961, with relevant sections being: Section 4: General Taxability. Section 90: ...

In India, the rising cost of healthcare makes health insurance essential for financial protection against unforeseen medical ...

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

Finance Minister Nirmala Sitharaman is set to introduce a new Income Tax Bill aimed at simplifying the six-decade-old tax ...

These slabs apply to individuals, Hindu Undivided Families (HUFs), and associations, and are updated periodically to reflect ...

Budget 2025 prioritised three key areas: reviving consumption amid a notable slowdown, keeping inflation in check through a ...

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

Budget 2025 income tax expectations: Standard deduction is a flat deduction available on the salary income that helps reduce the taxable income of a taxpayer. Personal tax experts are of the view ...