T Act, which pertains to the New Tax Regime, is applicable by default unless the taxpayer chooses to opt out under specific ...

In the case of EPF, employee contributions generally qualify for a deduction under Section 80C of the Income Tax Act, capped ...

Union Budget 2025 sparks debate between old and new tax regimes, offering exemptions vs. simplified slabs and lower rates.

The Indian government has introduced the new Income Tax Bill 2025 to simplify and enhance the efficiency of the tax system.

The new bill has also provided repeals and savings clause to ensure that rights and benefits accrued to the taxpayers under ...

The provision under section 80C enables taxpayers to claim deduction for investing in ... V. Can opt for old tax regime: Additionally, if you still want to claim tax exemption for ELSS, you ...

If you have a total cost-to-company (CTC) of Rs 14.65 lakh annually and you avail of provisions like NPS and EPF ...

Filing an ITR is crucial not just for compliance, but also to take advantage of available tax rebates and avoid penalties.

The new income-tax bill, set to be implemented on 1 April 2026, aims to streamline and simplify the tax code. Expected to ...

Unlike the current Income-tax Act, 1961, which has 18 tables, the new Bill includes over 57 tables. This comprehensive format includes essential details such as deductions, TDS/TCS rates ...

One key update is the introduction of a “tax year,” which refers to the 12-month period starting from April 1, effectively ...