In her Budget 2025 address, FM Nirmala Sitharaman announced modifications to the new tax regime, such as the exemption of up to Rs 4 lakh from basic tax. The old tax regime was kept unchanged.

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

The income tax department has launched a simple tool to help taxpayers compare taxes under the New Tax Regime for FY 2024-25 ...

Introduced in 2020, the new tax regime became a default regime in 2023. To be able to file tax return under the old tax ...

India’s tax system saw important updates, making the new tax regime the default for most taxpayers. While it offers lower tax rates, it removes many traditional exemptions.

The total revenue impact of major tax incentives for Individual/HUF taxpayers for last five years is Rs 8,69,907.40 In comparison, the total revenue impact of major tax incentives for corporate ...

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 ...

Finance minister Nirmala Sitharaman introduced several tax reforms in the Budget 2025 intended to benefit middle-class taxpayers, including senior citizens.

Under the new regime, the tax liability for individuals earning Rs 12 lakh or Rs 12.75 lakh (for salaried persons) is Rs ...

The Budget proposes revised slabs and rates, which Sitharaman said would reduce the tax burden on the middle class, allowing ...

Finance Minister Nirmala Sitharaman has brought big cheer for middle class taxpayers - it’s a bonanza like never b ...

Though there is a standard deduction of Rs 75,000 under new tax regime, there are no deductions available for investments ...