The Income Tax Bill 2025, a document of 622 pages comprising 536 sections and 23 chapters, is anticipated to be introduced in ...

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

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

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.

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

Choosing the old regime makes sense for higher incomes if substantial investments in tax-saving schemes are made. At Rs 20 lakh and above, the new regime shows substantial savings over the old.

Although these investments are not tax free any more, returns earned by investing in them are still exempt from income tax ...

the standard deduction limit for salaried individuals was raised to Rs 75,000, while for family pensioners, it was increased to Rs 25,000. However, choosing between the old regime and the new tax ...

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 government has also raised the TCS exemption limit on Liberalised Remittance Scheme (LRS) transactions from Rs 7 lakh to ...

The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...