The new tax regime under Section 115BAC of the Income Tax Act offers lower tax rates in exchange for giving up most ...

Here we look at the tax deductions and exemptions under both tax regimes for FY2025-26 New Tax Regime 2025-26 FM Nirmala Sitharaman's tax relief proposals in Budget 2025-26 encompass a variety of ...

However, these lower rates were offered with the condition that a range of exemptions and deductions will not be offered anymore under the new tax regime. In case you are not aware, there are ...

Three types of deductions are available under New Tax Regime. Representational image Union Budget 2023 has made the New Tax Regime attractive by providing taxpayers with an opportunity to claim ...

Conversely, the New Tax System offers lower tax rates, ranging from 0% to 30%, but there are fewer deductions and exemptions available. Under the Old Tax Regime, incentives for saving were ...

With the new tax regime (NTR) becoming the default regime lately, several taxpayers are anxious about having lost the eligibility to claim deduction. What, however, is not known to many people is ...

According to this part of Section 80CCD, the new tax regime deduction ... amount is 5 lakh rupees. Under the new tax law, daily allowances, perquisites, travel expenses for disabled employees ...

However, the deduction is applicable only in the New Tax Regime, while its limit remains unchanged in the Old Tax Regime. There is no change under the old tax regime. Salaried taxpayers are ...

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 ...

and rebates within the new regime to ensure that income up to Rs 12 lakh remains tax-free. Here we look at the tax deductions and exemptions under both tax regimes for FY2025-26 FM Nirmala ...