Understand the key deductions for AY 2025-26 under the new tax regime, including standard deduction, NPS, and the ₹7 lakh tax ...

New Delhi: The New Tax Regime, introduced couple of years ago by Finance Minister Nirmala Sitharaman, entitled salaried individuals for a lower rate of tax. The rider, however, was that the ...

Learn about India's optional tax regime under Section 115BAC, which offers lower tax rates in exchange for giving up various exemptions and ...

The Income Tax Act provides taxpayers the choice of making a selection between the old and new regimes, yet the selection ...

Think the new tax regime killed all deductions? Think again. From ₹50,000 standard deduction to NPS and health insurance ...

A senior/super senior citizen may submit declaration in Form No. 15H to the deductor for non-deduction of TDS to the effect ...

When filing an Income Tax Return (ITR), taxpayers are generally perplexed among exemptions, deductions, and rebates. Though all three reduce your tax outgo, they operate distinctively under the Income ...

The government introduced a new tax regime in 2020 with lower slab rates but without standard deductions and exemptions.

Taxpayers in India can switch between old and new tax regimes while filing their income tax returns by 15 September. Here's how to change your regime, even if you have already declared a different one ...

If you’re below 60 years of age, you can claim a deduction of up to Rs 10,000 on the interest earned from your savings bank ...