Though ITR filing can still be done via offline and online mode both, most taxpayers nowadays prefer filing ITR online using ...

The default adoption of the new tax regime is a notable modification outlined in the Budget 2023. Its objective is to streamline the tax filing procedure and promote greater participation in the ...

In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Most small ...

This indicates that if your deductions exceed Rs 2,37,500, then the old tax regime would be more advantageous for you, otherwise, the new tax regime would be the better option. Similarly ...

One of the key areas of focus is expected to be the new tax regime, which the government has been promoting in recent years. ...

It is pertinent to note that though salaried individuals can switch between the old and new tax regime on a year-on-year basis, such salaried employees are required to provide intimation regarding ...

All those with non-business income can chose to alternate between the old tax regime and new tax regime once a year The current income tax rules does provide the freedom for taxpayers to choose ...

New Vs Old Tax Regime: Salaried taxpayers face a critical decision within 10 days on selecting their tax regime for the current financial year. The choice, a one-time decision, must be made at the ...

There will be no income tax payable upto income of Rs 12 lakh (i.e. average income of Rs 1 lakh per month other than special rate income such as capital gains) under the new regime. This limit ...

Budget 2024: In the Budget, Finance Minister Nirmala Sitharaman did not make any changes in the old tax regime but increased the exemption limit in the new tax regime, making it more ...