The new Income Tax Bill will replace the current Income Tax Act, once it becomes effective from April 1, 2026. However, many ...

With Budget 2025 raising break-even limits, tax savings under the old regime seem tougher. But for salaried couples in ...

As per the Old Tax Regime which allows deductions under ... Senior citizens also get exemptions such as HRA and LTA. Tax Slabs Under the New Tax Regime which is applicable in the financial year ...

With key updates in 2023 Budget, taxpayers are left wondering which tax regime—old or new—offers best savings for their financial situation?

The new tax regime starting FY 2025-26 offers tax exemption for earnings up to Rs 12.75 lakh annually. Despite the new ...

India offers two income-tax regimes: the older one with various exemptions and deductions, and a newer simplified regime with ...

The main tax regime (as existing prior to introduction of New Tax Regime) provides certain deductions like HRA, LTA, housing loan interest and 80 C deductions (“Old Tax Regime”). These ...

Finance Minister Nirmala Sitharaman has proposed to add more sugar to the New Tax Regime. As per the tax rates proposed by the Union Budget 2025, there would not be any tax on income up to Rs 12 lakh ...

List of Deductions or Exemptions Under Old Tax Regime The simplified new tax rate ... allowances forming part of salary such as HRA, LTA, and also for specified investments or expenses such ...

Introduced in the Union Budget 2020, the new tax regime offers significant reductions in tax rates, but limits the ...

The government increased the tax exemption limit to Rs 12 lakh and revised rates lower under the New Tax regime in the Budget ...