The decision between the old and new regime depends on available deductions and exemptions. If the assesse has deductions and ...

The proposed income tax slabs are under the new tax regime ... choose any tax regime in a financial year as per their convenience. The new tax regime does not allow most of the deductions and ...

As per the Old Tax Regime which allows deductions ... Senior citizens also get exemptions such as HRA and LTA. Tax Slabs Under the New Tax Regime which is applicable in the financial year 2024-25.

(Pixabay) In Budget 2024, Finance Minister Nirmala Sitharaman introduced changes to the income tax slabs to make the new tax regime ... at a rate of 30 per cent. The old regime allows you to ...

The new Income Tax Bill has been tabled in Parliament today. The new Income Tax bill, effective from April 1, 2026, will replace the current Income Tax Act 1961. The new bill aims to simplify the ...

There will 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. This limit ...

The 5 per cent tax bracket is now Rs 4 lakh - Rs 8 lakh ... regime which is more beneficial With the widening of the slabs in the new regime, the taxpayer would need to have higher deductions ...

In the fiscal year 2025-26, starting from April 1, 2025, the New Tax Regime will see new income tax slabs, including a tax rebate of Rs 60,000 for income up to Rs 12 lakh (and Rs 12.75 lakh for ...

you might be already aware of the revision to income tax slabs in India every year. With the new tax regime slabs, certain changes have come about. For instance, right now, there are two different ...

In sops for the middle class, FM hiked the standard deduction by 50 per cent to ₹75,000 and tweaked tax slabs under the new income tax regime to provide more money for the salaried class.

In sops for the middle class, Finance Minister Nirmala Sitharaman on Tuesday hiked standard deduction by 50 per cent to Rs 75,000 and tweaked tax slabs under the new income tax regime to provide more ...

Income up to ₹7.75 lakh is now tax-free under the new tax regime, under which exemptions and slabs have been enhanced. The 5 per cent and 10 per cent slabs have been enhanced by 1 lakh each. All put ...