Standard deduction is a flat amount which is automatically deducted from an individual's annual income. This reduces the total taxable income and therefore, lowers the tax liability.

Budget 2025 income tax expectations: Standard deduction is a flat deduction available on the salary income that helps reduce the taxable income of a taxpayer. Personal tax experts are of the view ...

In Budget 2025, tax relief measures include raising the income tax rebate limit to ₹12 lakh and doubling senior citizens’ tax ...

Finance Minister Nirmala Sitharaman has proposed significant tax reforms for middle-class taxpayers in India. With zero tax on incomes up to ₹12 lakh and reduced rates for higher brackets, here’s how ...

Budget 2025 increases rebate, no tax liability up to ₹12 lakh; answers on rebate, exemptions, deductions in income tax.

Union Finance Minister (FM) Nirmala Sitharaman, who presented her eighth consecutive Union Budget on February 1, streamlined ...

The change is designed to reduce the number of transactions subject to TDS, particularly benefiting small taxpayers receiving ...

Finance Minister Nirmala Sitharaman implemented changes to the slabs, rates, and rebates under the New Tax Regime to ...

What will the income tax slabs and income tax rates after Union Budget 2025? Will FM Nirmala Sitharaman raise the standard ...

You don't buy a house for the tax deductions. It's just a nice side benefit. And usually very much appreciated, considering all the extra expenses associated with homeownership. Here are eight tax ...

The minister said with the new announcement, the government has forgone Rs 1 lakh crore in direct taxes and Rs 2,600 crore in ...

With a promise to further simplify the current tax law by introducing a new Income-tax Bill next week, the taxpayer-friendly ...