Budget 2024 has proposed changes in the income tax slabs under the new tax regime. The changes have been made at the lower level of the income tax slabs, and this will largely benefit the lower ...

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 ...

The new tax regime provides a lower tax rate but removes several deductions that are otherwise available under the old tax regime. For example, it does not allow you deductions on long term ...

ITR filing: Old tax regime or new tax regime, here is what you need to know about the Income tax slab for FY 2024-25 before picking one. The income tax return filing time is here, and although it ...

Income tax slab for AY 2025-26::Money experts say that depending on your situation, the old tax regime could be more advantageous if you take advantage of many deductions and exemptions.

Old Tax Regime: Deduction for home loan interest, principal payment allowed New Tax Regime: No deduction allowed Old Tax Regime: HRA exemption is allowed for salaried taxpayers. New Tax Regime ...

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 ...

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 ...

Since the government brought the new tax regime into effect in 2020, taxpayers have a choice of opting between two systems: the old regime of deductions and exemptions, and the new regime with ...

That is, if they opt for the new tax regime and sign up for corporate NPS, through which their employers will contribute up to 14 percent of their basic salaries to their NPS accounts. Under the ...

Finance Minister Nirmala Sitharaman on Saturday announced fresh tax slabs under the New Tax regime in the Union Budget 2025-26. The new tax slabs aim to provide relief to individuals earning up to ...