New system's simplicity, reduced tax liability, increased disposable income potential 'make it a formidable alternative' ...

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

Finance Minister Sitharaman announced an increase of Rs 25,000 in standard deduction from Rs 50,000 to Rs 75,000 under the ...

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

The new income tax regime ... and retired taxpayers are entitled to claim standard deduction when filing their Income Tax Returns (ITR), regardless of their income. Self-employed individuals ...

The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...

The tax rebate extends up to Rs 12.75 lakh when factoring in standard deductions under the new tax regime, making it the most ...

The government today cut personal income tax rates for some sections of taxpayers in a bid to boost consumption.

The provisions regarding standard deduction for salaried employees is available under both Old and New Tax regime. Under both ... their taxable income can claim an additional deduction of Rs ...

“Salaried taxpayers are hoping that the government will increase the amount to ₹1 lakh in the new income tax regime ... standard deduction when filing their Income Tax Returns (ITR).