During the fiscal year 2025-26, commencing from April 1, 2025, the New Tax Regime will introduce revised income tax brackets. This includes a tax rebate of Rs 60,000 for incomes up to Rs 12 lakh ...

The new regime eliminates most exemptions — such as Sections 80C, 80D, HRA, and LTA — but compensates with reduced tax slabs.

Income Tax Slabs: With the new regime, the threshold of income above which income is exempt from taxation remains at Rs 3 lakh, but the slabs have been tweaked so that tax incidence on the mid ...

Finance Minister Nirmala Sitharaman presented the Union Budget 2020 in the Lok Sabha on Saturday. This is the second time Sitharaman tabled the Budget after ...

CBDT extends ITR filing deadline to Sept 15, detailing penalty waivers under Section 234A and unchanged advance tax penalties ...

Here’s a look at the income tax slab rejig and other measures that will come into force. New slabs. The new, minimal-exemptions tax regime is set to be the favoured choice of most taxpayers this ...

New Tax Regime Calculations: New tax regime revised slab rates which came into effect on April 1, 2025, made income up to Rs 12,00,000 tax-free for non-salaried individuals. For salaried individuals, ...

The revised tax slabs under the new regime offer significant savings while ensuring simplified tax compliance. New Income Tax Slabs for FY 2025-26. Annual Income. Tax Rate. Rs 0 - Rs 4 lakh. NIL.

On February 1, 2025, in her 74-minute Union Budget speech, Finance Minister Nirmala Sitharaman said there will be no tax on income up to ₹12,00,000 per annum, under the New Tax Regime (NTR ...

Budget 2025 introduced significant enhancements to the new tax regime. "The income between Rs 4 lakh and Rs 8 lakh is taxable at 5 per cent.

New income tax bill 2025 allows one-time set-off of LTCL with STCG tax year 2026–27 onwards; This may help in lower capital gains tax outgo ...