After a major budget that saw the FM making some crucial announcements regarding direct taxation in India, the New Income Tax ...

You can use income tax calculator to compute income tax under both the regimes i.e., new tax regime and old tax regime, ...

Finance Minister Nirmala Sitharaman during her Budget 2025 speech on February 1, 2025 announced the New Income Tax Bill that ...

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

The income tax rates for the assessment years (AY) 2025-26 and 2026-27 remain unchanged across categories. Under Section 115BAC, default rates for individuals and Hindu Undivided Families (HUF) ...

Illustration: Dominic Xavier/Rediff.com India's ... decades-old Income Tax Act of 1961. In her Union Budget 2025-2026 speech, Finance Minister Nirmala Sitharaman said that the new income tax ...

Check the latest slabs of income tax and rates under the new tax regime for those earning above Rs 12 lakh. The adjustment in income tax rates is expected to enhance consumer spending in the economy.

Latest income ... be no income tax payable upto income of Rs 12 lakh (i.e. average income of Rs 1 lakh per month other than special rate income such as capital gains) under the new regime.

As per the India Today report, the new Income Tax Bill may be presented ... cited the news portal The Economic Times. Income Tax Bill News LIVE: An income tax exemption is provided on certain ...

Takeaways From India's Budget That Slashes Income Tax on the Salaried Middle Class to Spur Growth NEW DELHI (AP) — Indian Prime Minister Narendra Modi’s government presented an annual budget ...

“The focus of the budget is taking everyone together on an inclusive path,” Sitharaman said, adding that the government is aiming for a fiscal deficit of 4.4% of India’s gross domestic ...