Mint6d
Income Tax: These are the exemptions given under the old and new tax regimes; check list
Income Tax: Standard deduction of ₹75,000 from salary is given under the new tax regime In FY 2023, the income tax regime became a default regime for all taxpayers. This means the taxpayers are ...
Indiatimes4d
Budget 2025 Income Tax
the old income tax regime might remain unchanged. Currently, the new tax regime offers a basic exemption threshold of Rs 3 lakh. There are expectations that this threshold could be raised to Rs 5 ...
Budget 2025: Tax deductions, exemptions under New Tax Regime and Old Tax Regime for FY2025-26
In Budget 2025, the government opted not to modify the existing tax regime or introduce any new deductions. Finance Minister ...
Indiatimes5d
Budget 2025 income tax: Why standard deduction should be hiked under new tax regime
Personal tax experts are of the view that since no major exemptions and deductions are available under the new income tax regime, there is a strong case to hike the standard deduction. Budget 2025 ...
Zero income tax: Investment in NPS, other deductions can get you more tax savings up to Rs 96,000; here's how
By investing in NPS and applying standard deduction of Rs 75,000, taxpayers earning Rs 13.7 lakh salary can pay zero tax; ...
moneycontrol.com3d
Income Tax Expectations: Higher tax exemption, new slabs likely for salaried class
Raising the income tax exemption limit to Rs 5.7 lakh, adjusted for inflation. Increasing fixed deductions and exemptions, such as: Raising the Rs 10,000 savings interest deduction to Rs 19,450 by ...
Business Today3d
Union Budget 2025: New Tax Regime vs Old Tax Regime -- a look at expectations, deductions, exemptions
The Old Tax Regime remains popular due to its various deductions and exemptions, including those in Sections 80C and 80D of the Income Tax Act. For instance, Section 80C allows deductions of up to ...
moneycontrol.com4d
Income Tax Expectations: Relief for taxpayers with higher exemption limits and revised slabs?
Instead, the exemption allowed is the lowest of: If your annual income exceeds Rs 15 lakh and you claim deductions of at least Rs 4.33 lakh (plus Rs 50,000 standard deduction), the old tax regime ...
The Financial Express6d
Budget 2025: Annual income up to Rs 10 lakh to be tax-exempt? Higher deductions, new 25% slab on taxpayers’ wishlist
In the last Union Budget 2024-25, FM Sitharaman announced some more benefits for taxpayers under the new tax regime like an increase in standard deduction ... proposal to exempt income tax up ...
Business Today3d
Tax Slab Expectations: Meaningful tax relief, basic exemption limit to Rs 5 lakh, slash number of TDS rates in Budget 2025
Simplified tax ... deductions. Tax experts believe that no major changes in the old tax regime are expected. Any rationalisation in income tax slabs, rates and changes in basic exemption limit ...
Mint3d
Income Tax Calculator: Compute your tax under old and new regimes here
Although the new tax ... exemptions and deductions given under section 80C, 80 D, 80 G and 80CCD (1), among others, what it offers instead is the lower slab rates. For instance, if your income ...
The Financial Express4d
Budget 2025: Higher exemptions to revamped 80C, here’s what taxpayers expect from FM
Among the primary expectations of taxpayers are the rationalization of income tax slab rates, an increase in the Section 80C deduction limit ... increase the maximum exemption limit and reduce ...