The new regime still allows employers to reimburse the cost of mobile phones, laptops, or car leases if they are used for ...

As the financial year 2025-26 begins, taxpayers must choose between the two income tax regimes when they file their income tax returns (ITR)—the deadline is July 31.

Leave Travel Allowance (LTA) is a common perk in many salary packages, yet with two tax regimes in place, people often ask if ...

This facility is not available in the new regime. Your income falls in a higher tax bracket. The highest tax rate of 30% in the old tax regime applies to income of Rs 10 lakh, while in the new tax ...

The new regime, on the other hand ... which increases to 10% in the Rs 8 lakh to Rs 12 lakh bracket. The tax rates for the brackets of Rs 12 lakh to Rs 16 lakh, Rs 16 lakh to Rs 20 lakh, and ...

Also Read | Income Tax Slabs FY 2025-26 explained: 20 FAQs individual taxpayers should check to understand tax rates, income tax benefit under new tax regimeFor the tax brackets of Rs 20,00,001-24 ...

the new tax regime is the recommended option, as no tax is owed thanks to the rebate. If your deductions surpass the minimum break-even amount for your income bracket (refer to the last column of ...

"The Rs 7.5-10 lakh bracket is levied at 10 per cent and ... with a salary of Rs 9 lakh without any investments, the new regime's tax (Rs 45,000) is less than the old regime's Rs 92,500. " ...

Trump's reported demand stands in stark contrast to the mainstream Republican position on taxes, which generally favors tax cuts for wealthier Americans—and also marks a reversal on the ...

The president is said to want to create a new top income bracket for people making more than $2.5 million per year and to tax income above that level at a rate of 39.6 percent. By Andrew Duehren ...

The income needed for the highest bracket in 2024 ... started accepting tax returns in January. If you haven't filed yet, you might want to know that there are new federal income tax brackets ...