The new tax regime in India offers higher take-home salaries and lower average tax rates compared to the old regime for ...

Ahmedabad: Tax experts have questioned the logic of retaining the old tax regime in the new Income Tax Bill introduced ...

The removal of deductions means investors must focus on real returns and financial goals rather than just tax savings, say ...

Notably, with the amendment to section 115BAC of the Income Tax Act as effective from F.Y. 2023-2024 [A.Y. 2024-2025], the new tax regime is made as a default tax regime for persons other than ...

Here are the tax slabs, deductions, and rebates for the financial year 2024-25 or the assessment year 2025-26.

No more running after proofs, no more figuring out which investment saves the most tax. Just take your total income, slap on the tax rate, and boom—you’re done. No last-minute scrambling, no endless ...

While the old tax regime offers numerous benefits, the new tax regime introduced simplifies ... are exempt from paying income tax via a mix of rebates and revised tax slabs. This makes the regime ...

The financial year 2024-25 is about to close. Taxpayers can file their income tax return as per the existing new tax regime ...

Tax-savers: Parents can individually claim tax deductions under section 80C on the tuition fee component in their children's ...

This increase in the threshold means that income up to ₹12 lakh is tax -free on account of rebate of ... absent in the new regime. Here’s a table showing a comparison of old vs new regime ...

In certain scenarios, the old tax regime may still offer a comparative advantage over the new regime. (Image: Financial Express) The proposals introduced by Finance Minister Nirmala Sitharaman in ...

In the four Budgets that followed FY21, these tax breaks under the old regime have remained untouched. But the new regime has been dramatically spruced up with a higher rebate and friendlier tax ...