However, they are divided on how soon. Budget 2025 income tax expectations: The new income tax regime was introduced as an optional tax regime from FY 2020-21. Budget 2025 income tax expectations ...

For the initial few years there was not much uptake of the new income tax regime amongst the taxpayers. This resulted in another amendment of making the new income tax regime as the ‘default ...

Income Tax: Standard deduction of ₹75,000 from salary is given under the new tax regime In FY 2023, the income tax regime became a default regime for all taxpayers. This means the taxpayers are ...

Before proceeding further, let us first understand the tax exemptions which are allowed under the old regime but not in the new tax regime. Although there are a few exemptions that are given under ...

In ITR Form 1, taxpayers are given the choice to pick their preferred tax regime, granting them greater authority over their tax obligations. Opting out of New Tax Regime Individuals who wish to ...

including bringing all under the New Tax Regime. In its report, ‘Prelude to Union Budget 2025-26’, SBI said the government can ensure better tax compliance and bolster consumption by enhancing ...

Ever since the Modi government introduced the New Tax Regime in the 2020 Budget, one of the most discussed topics among taxpayers has been which tax regime is better. The answer largely depends on ...

According to the SBI research report, one of the suggestions include transitioning all taxpayers to the new tax regime. Image: Representational ... how to download FM’s speech in PDF Budget 2025: Are ...

The new tax regime allows a salaried individual to claim a standard deduction of Rs 75,000 from the salary income. There is ...

A collection of the most-viewed Moneycontrol videos. Budget 2025: PM Modi Hails ‘People’s Budget,’ Highlights Boost for Manufacturing, Tourism, Jobs Advisory Alert: It has come to our ...

Income Tax Expectations ... in the form of lower tax rates and increased deductions. Speculation is rife that the government may introduce significant changes to the new tax regime, including ...

Switching between the Old Regime and the New Regime is possible for individuals, allowing their annual tax regime to alternate between the previous and new regimes if certain conditions are met.