The new Income Tax Bill will replace the current Income Tax Act, once it becomes effective from April 1, 2026. However, many ...
One key update is the introduction of a “tax year,” which refers to the 12-month period starting from April 1, effectively ...
The government increased the tax exemption limit to Rs 12 lakh and revised rates lower under the New Tax regime in the Budget ...
New Income Tax Bill 2025 LIVE Updates: Union Finance Minister Nirmala Sitharaman has presented the new Income-Tax Bill 2025 ...
The Income Tax Act 2025 will replace the current Income Tax Act 1961. As the current income tax laws will change, many ...
Less: Exemptions on Salary income (other than HRA) which are not allowed under New Regime (e.g. Leave travel allowance, Education allowance, Hostel allowance etc.) Less: Exemptions on Salary ...
The Income-tax Bill cuts some clutter of the existing Act and introduces new illustrative tables, while maintaining ...
Here’s a table showing a comparison of old vs new regime with the income level and deductions. If you have deductions more ...