1 day ago · The Union Budget 2024 has introduced significant updates to the income tax regime, aimed at simplifying the tax structure and providing relief to taxpayers. The revised income tax …

3 days ago · Income tax is a direct tax levied by the Government of India on an individual's earnings based on a structured slab system. This progressive taxation ensures that higher …

2 days ago · 25% slab introduced for high earners and tax relief up to 30.8% for middle-income group. Read this table to see how much tax you can save at different income levels ranging …

Dec 28, 2024 · The new tax regime provides a progressive tax structure, where higher income levels are subject to higher tax rates. It is important for taxpayers to consider these tax slabs …

3 days ago · Despite income tax rate cuts, the Centre’s gross income tax receipts for 2025-26 is budgeted at Rs 14.38 lakh crore, which is 21.1% higher than the budget estimate of Rs 11.87 …

Income Tax Slabs and Income Tax Rates For FY 2024-25 (AY 2025-2026): Finance Minister Nirmala Sitharaman introduced modifications to the income tax slabs within the new tax …

In India, income tax is calculated using income tax slabs and rates for the applicable financial year (FY) and assessment year (AY). For this year, the financial year will be 2024-25, and the …

Income tax in India is governed by Entry 82 of the Union List of the Seventh Schedule to the Constitution of India, empowering the central government to tax non-agricultural income; …

Oct 25, 2024 · Taxation of individuals in India is primarily based on their residential status in the relevant tax year. The residential status of individuals is determined independently for each tax …