Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and benefits available to you to reduce your ...

MI Emirates, the defending champions, sit second in the points table, 8 points behind the leaders, Desert Vipers. With ...

Though the major tax relief is likely to be announced for the new tax regime, taxpayers need to know the current deductions available under the old tax regime. Here’s a comprehensive guide to the key ...

Meanwhile, 47% call for a hike in the set-off limit or complete removal of the Rs 2 lakh limit under the old tax regime. Although 72% of taxpayers have opted for the new income tax regime ...

As the anticipation builds for the Union Budget 2025, set to be tabled on February 1, taxpayers are again drawing parallels and debating pros and cons of old and new tax regimes. “The Union Budget ...

Currently, the tax benefits for NPS are available under the old tax regime. Investors can contribute up to Rs 1.5 lakh under Section 80CCE, which provides tax exemption on annuity purchases or ...

Finance Minister Nirmala Sitharaman is expected to present the Union Budget on February 1, with the salaried class anticipating greater income tax reliefs in the announcements. In her previous budget ...

However, it was put on the backburner, and the old tax regime is still in force, despite continued demands to change its cumbersome provisions. The Income Tax Act, 1961, has 298 sections spread across ...

The new tax regime offers lower tax rates without any deductions. On the other hand, the old tax regime provides several deductions under various Sections of the Income Tax Act, 1961, though the ...

There have been discussions about potentially phasing out the Old Tax Regime, but as of now, no changes have been made to the tax slabs under this regime in the 2024 budget. The 2020 Union Budget ...