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) ...

Finance Minister Nirmala Sitharaman announced a major tax relief by raising the tax slab under the new tax regime for the ...

Under the provisions of section 87A of the Act, an assessee, being an individual resident in India, having total income not exceeding Rs 5 lakh, is provided a rebate of 100 per cent of the amount of ...

In the Finance Act, 2020 a new Section 115BAC was inserted as part of the Income Tax Act, 1961 (the Act) with a view to ...

“For a person earning Rs 12,10,000, in the absence of marginal relief, the tax would amount to ₹61,500 (5% of ₹4 lakh + 10% ...

A comparison of the two regimes would clearly indicate that the intention of the Government is to streamline the process and ...

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

Budget 2025 saw major income tax changes with FM Nirmala Sitharaman announcing new income tax slabs and income tax rates for ...

Budget 2025 brings key tax, insurance, and investment changes. From ULIP taxation to NPS benefits and Kisan Credit Card ...

The new tax regime, introduced under Section 115BAC of the Income Tax Act, 1961, was designed to make taxes simpler by offering lower tax rates.

Finance Minister Sitharaman announced a substantial tax benefit, ensuring that individuals earning up to Rs 12 lakh annually ...