The Government of India levies tax upon the income of salaried and self-employed citizens of all age groups. Once you figure out which tax slab you fall under as per your tax regime, it becomes easier ...
It is to be noted that while the new regime provides a lower tax rate for specific tax slabs, the old tax regime has enough room for claiming deductions under Chapter VI-A against various ...
Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant ...
The highlight of Finance Minister Nirmala Sitharaman's eighth consecutive Budget is the relief to middle-class taxpayers from the salaried class. But the Budget speech, which also announced revised ...
Taxpayers who have already selected the new tax regime in the Income-Tax Act 1961 will not need to choose it again in the ...
On the other hand, the old tax regime provides several deductions under various Sections of the Income Tax Act, 1961, though the tax rates are higher. New tax regime slabs (for taxpayers below 60 ...
What if you earn more than Rs 12.75 lakh? Should you pick the new tax regime for lower rates or stick to the old one for ...
New Tax Regime vs Old Tax Regime Slabs and Rates: Finance Minister Nirmala Sitharaman has announced significant income tax relief for the middle class in the Union Budget 2025. Budget 2025 New Tax ...
Although the new tax regime does not offer most exemptions and deductions given under section 80C, 80 D, 80 G and 80CCD (1), among others, what it offers instead is the lower slab rates.
The new tax slabs with lower tax rates will leave more money on the table to invest ... it might make more sense for you to stick to the old tax slabs. However, if you earn more than that ...