The income tax reforms introduced in the budget are among the biggest in the last decade — simplified and rationalised to put more money in people's hands without compromising the fiscal deficit.

Switching between the Old Regime and the New Regime is possible for individuals, allowing their annual tax regime to ...

In terms of GST-specific amendments, Budget 2025 also focused on pre-deposit amounts for GST appeals, reducing penalties for E-way bill violations and introducing a 10% penalty for other infractions.

Union Budget 2025 announced by Finance Minister Nirmala Sitharaman focuses on enhancing credit availability and revising MSME ...

In 2014, taxpayers were exempt from tax on income up to Rs 2 lakh. Budget 2025 has significantly expanded this relief to Rs ...

Anyone earning Rs 2.5 lakh or more in India must file an ITR. This rule applies to everyone, not just high-income earners.

However, they are divided on how soon. Budget 2025 income tax expectations: The new income tax regime was introduced as an optional tax regime from FY 2020-21. Budget 2025 income tax expectations ...

Lauding the new tax regime, PM Modi said that his government seeks to put more money in the pockets of people, increase ...

Budget 2025 income tax expectations: Standard deduction is a flat deduction available on the salary income that helps reduce the taxable income of a taxpayer. Personal tax experts are of the view ...

In this write-up, we will analyze which tax regime — old or new — is more advantageous for individuals with an annual income of up to ₹15 lakh. For this comparison, we will assume the taxpayer is ...