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

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, introduced under Section 115BAC of the Income Tax Act, 1961, was designed to make taxes simpler by ...

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

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

These are open-ended funds and have a lock-in period of three years as compared with five years for unit-linked insurance ...

The Budget announcement of zero tax for earnings upto Rs 12 lakh per annum and the rejig of tax slabs across the board should prompt more than 90 per cent of individual taxpayers to embrace the new ...

Ravi Agrawal, in a post-Budget interview, pointed out that the income tax payment provisions announced in Budget 2025 not ...

JCIT (A) upheld the CPC’s action, stating that under section 115BAC, once the option for the new regime is exercised, it cannot be withdrawn for the current year, only for subsequent years. However, ...

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

The government has revised the tax structure under the new regime with Finance Minister Nirmala Sitharaman announcing that those earning up to Rs 12 lakh annually won't have to pay any income tax.