The income tax return form, by default, applies to the new regime. It inquires from the taxpayers whether they wish to come out under Section 115 BAC. Selecting 'Yes' transfers them to the old tax ...

For the unversed, the new income tax regime offers concessional tax rates in exchange for non-entitlement of most income tax deductions, such as section 80C, 80D and 80DD, among others.

After successfully filling out the income-tax return, the next step is to verify it. If a return is filed but not verified ...

It is essential to inform your employer of your preferred tax regime on time to ensure that less tax is deducted from your ...

A common question every year is whether to opt for the old tax regime or the new tax regime. The right choice depends on your income, investments, and eligible deductions. In the new tax regime ...

Both the old and new tax regimes have advantages and disadvantages, but the New Personal Tax Regime is the best option for taxpayers making up to Rs. 12 lakhs per year since it provides a full refund ...

April is the month when employees have to submit the details of their intended tax-saving investments during the year to ...

Proposed New Tax Regime Calculations: Is your salary Rs 12,78,000? Will you be taxed on Rs 3,000, or Rs 12,78,000; check details As capital gains tax rates change, here's how much income tax you will ...

The new financial year, FY26, has already started. With this new financial year comes the new Tax regime, which has a big difference in terms of many things. The government has recently rolled out ...

Post Office Savings Accounts (POSA) have emerged as a favourable option for individuals opting for the new tax regime, offering specific tax benefits not available with regular bank savings accounts.

income tax benefit under new tax regime For the tax brackets of Rs 20,00,001-24,00,000 and above Rs 24,00,001, the entries are NA as no taxable income remained after the fifth bracket. Had there ...