Many taxpayers preferred the old tax regime because it allowed them to claim deductions for expenses like house rent, home ...

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

We are not incentivising the old tax scheme. These taxpayers will also shift to the new regime after comparison.' IMAGE: Finance Minister Nirmala Sitharaman with the Budget team. Photograph ...

The Centre has once again aimed to enhance the appeal of the New Tax Regime by introducing lower tax rates and reducing deductions. This restructuring aims to simplify taxation, while the Old ...

Live: FM Nirmala Sitharaman announced to introduce New Income tax bill next week, no income tax till 12L under new tax regime ...

This will increase the burden of compliance on the part of the assessees and simultaneously increase the burden of the Income Tax Department also in monitoring the same. Many firms do not have TAN and ...

For salaried individuals who opt for the new tax regime, there’s a standard deduction of ₹75,000. Additionally, the employer’s contribution to the National Pension Scheme (up to 14% of ...

Summary: The Finance Bill 2025 presents significant updates in both direct and indirect taxes aimed at improving business ease, reducing litigation, and widening the tax base. Direct tax proposals ...

The proposed changes could substantially increase the disposable income available to both middle-class and high-income ...

While both the old and new regimes ... National Pension Scheme (NPS), repayment of housing loan, payment of tuition fees, etc. Here’s what you need to know about the new tax and old tax regimes.

With no tax for income under ₹12 lakh, you have a higher incentive to opt for the new tax regime. This means your incentive ...