The new tax regime from FY 2025-26 offers zero tax on incomes up to Rs 12 lakh, making it an attractive option for many.

The new regime offers lower tax rates, but does not allow most tax deductions. On the other hand, the old regime permits ...

ITR Filing: Income Tax Department has now released forms 1 ... deduct tax in accordance with the rates provided under section 115BAC. V. House rent Allowance (HRA): House Rent Allowance is ...

Disallowed deductions' related business losses expire in the new tax regime, while ordinary business losses can continue to be carried forward under specified circumstances.

"The income threshold for claiming a tax rebate under Section 87A for resident individuals taxable under the new regime of Section 115BAC has been increased from Rs 7 lakhs to Rs 12 lakhs ...

Joseph had filed her income tax return, declaring an income of Rs. 12,40,090 and opted for the new taxation regime under Section 115BAC of the Income Tax Act, 1961. The Centralized Processing Centre ...

Here’s a summary of the key changes in the new ITR forms for Assessment Year 2025-2026:ITR 1.The new rules allow the taxpayer ...

For instance, in the EU — which includes 22 member states in the report — the average income tax rates for these three income levels were 12.1%, 17.2%, and 23.1%, respectively.

Central Board of Direct Taxes (CBDT) has notified income tax return (ITR) forms for e-filing income tax returns in FY 2024-25. These are the myriad changes which the income tax department has ...

The income-tax department has made significant changes to the ITR forms. (Freepik) Taxpayers can now file their returns for the recently concluded financial year using several forms notified ...