The new tax regime was first introduced in Union Budget 2020-21 by inserting a new section, 115BAC, in the Income Tax Act for ...

the new rates shall apply for subsequent years. However, the law provides such taxpayers one single option of switching back to the old tax regime should their circumstances change. Remember ...

Taxpayers must compare deductions under the old regime versus the new lower rates to determine the most beneficial option. New vs old tax regime: Is it time to switch to the new income tax regime ...

Budget 2025: Tax-free income limit under new regime rises to Rs 12 lakh Key changes to income tax slabs The FM has proposed to revise tax slabs and rates under the new tax regime. A new tax slab ...

New Tax Regime vs Old Tax Regime Slabs and Rates: Finance Minister Nirmala Sitharaman has announced significant income tax relief for the middle class in the Union Budget 2025. Budget 2025 New Tax ...

This means all taxpayers are meant to file their tax return as per the new regime, however they were also given the option of filing return under the old regime as well. III. Capital gains tax ...

Currently, taxpayers have the option to choose between two tax systems - the Old Tax Regime and the New Tax Regime. Following the Union Budget 2023, the New Tax Regime is now the default option.

The new tax regime (NTR) will now be considered as a default regime, but it may not necessarily be a better option for all the taxpayers, experts said. "The NTR shall now be considered as a ...

Now, there are three options of calculators: Tax Calculator: Old vs New Regime, Tax Calculator and Income and Tax calculator. Second: To compare income between two regimes (old and new), you need ...

Vide Finance Act 2022, taxation of virtual digital assets (VDA) has been introduced in the Income-tax Act, 1961 (‘the Act’), under section 115BBH of the Act in which the transfer of VDA is to be taxed ...