Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant income tax relief for the middle class in the Union Budget 2025, eliminating ...

The budget’s biggest, shiniest takeaway: no tax on income up to ₹12 lakh. Union finance minister Nirmala Sitharaman’s announcement was met with much cheer and enthusiastic number-crunching ...

New vs Old Tax Regime: In a major relief for taxpayers, the Union Budget 2025 has revamped the new tax regime, exempting individuals earning up to Rs 12 lakh annually from income tax. In a major ...

In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Most small ...

As the gap between the tax rates in the old and new regimes widens, fewer individuals may find the old tax structure attractive. However, there are still specific cases where the old tax regime ...

Budget 2025 income tax: Recognizing the contributions of the middle class and with an objective to eventually phase out the old tax regime, various changes have been introduced in the new tax regime.

Income Tax Exemption Limits However, the old tax regime will be same as earlier. Here are the slabs till now: The existing tax brackets under the Old Tax Regime remain in effect for the financial ...

Is there room for negotiation, or does the IRS expect you to pay back every penny that's owed on your old tax debt? Learn more about your tax relief options today. The short answer is yes ...

The below table analyses tax implications for a salaried individual under Old and New Tax Regime. *Tax under Old Tax regime has been computed considering standard deduction of Rs 50,000 ...

Budget 2025 offers ₹60,000 rebate for incomes up to ₹12 lakh under new tax regime. (Representational image)(REUTERS) This makes the old tax regime, which has 5 per cent, 20 per cent ...

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 Budget document has a table that illustrates ... to simplify personal tax by doing away with the complications of exemptions.The Budget document has no mention of the old tax regime.