Individual taxpayers without business income in India can freely switch between the old and new income tax regimes every year. However, the choice is subject to deadlines and procedural conditions ...

Shefali Mundra, tax expert, ClearTax, is of the view that the old regime may still suit those with substantial deductions. "The changes reduce the need for complex documentation and for investing ...

Personal income tax in India has always followed a progressive slab system with various deductions and exemptions. Until February 2020, there was only one tax regime – Old Tax Regime – in the ...

From revised tax slabs to AIS verification, here's what salaried assesses need to remember while filing returns this year ...

The new tax regime was introduced in Budget 2020 and later revised in Budget 2023. This helps taxpayers choose the tax structure at their convenience. So should you switch, let's understand.

Taxpayers choosing the old income tax regime for the Assessment Year 2025-26 will face increased scrutiny when claiming deductions, as the Income Tax Department has introduced stringent disclosure ...

Despite performing relatively better than other provinces and showing steady improvement in revenue, Sindh’s own-source revenues ...

Taxpayers stand to benefit from a 45-day extension for filing returns due to significant ITR form changes in Budget 2024.

In the new tax regime, income up to ₹ 7 lakh is tax-free for FY25. Note that from FY26, the nil tax threshold has been raised to ₹ 12 lakh under Section 87A", said Mohanka of TaxAaram India ...

For someone in the 30% tax bracket, the savings would be ₹ 3,000 per month, or ₹ 36,000 annually. “Even after paying the lease amount, the employee experiences a net financial benefit ...

Are the super-rich leaving London? Tax changes could spur wealth exodus. Oligarchs, exiled leaders, hedge fund managers and high net worth locals have coexisted in a city where old and new money ...