Standard deduction is a flat deduction available on the salary income that helps reduce the taxable income of a t ...

Finance Minister Nirmala Sitharaman may not scrap the old tax regime, but tax sops, if any, are likely to be announced only ...

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

The new tax regime simplifies income tax, but with fewer deductions in play, taxpayers must make the most of the available ...

In Budget 2025, the government opted not to modify the existing tax regime or introduce any new deductions. Finance Minister ...

For individuals who do not invest heavily in tax-saving instruments, the new tax regime could be more beneficial due to lower ...

The new tax regime allows a salaried individual to claim a standard deduction of Rs 75,000 from the salary income. There is ...

The new tax regime is now the default for taxpayers in FY 2023, allowing lower tax slabs but eliminating old deductions.

Under the old tax regime a standard deduction of Rs 50,000 is available for the salaried class, on the other hand, under the ...

“Finance Minister Nirmala Sitharaman, in Budget 2025, retained the standard deduction benefit for salaried individuals and ...

The central government has been modifying the New Tax Regime in the last few Budgets by including certain deductions and ...