It is important to note that the changes in the income tax slabs under the new tax regime are effective from April 1, 2024, i.e., for the ongoing fiscal year, 2024-25.

Many taxpayers are unaware of the income tax slabs that will apply to their income under the new tax regime, which is ...

The new regime eliminates most exemptions — such as Sections 80C, 80D, HRA, and LTA — but compensates with reduced tax slabs.

During the fiscal year 2025-26, commencing from April 1, 2025, the New Tax Regime will introduce revised income tax brackets. This includes a tax rebate of Rs 60,000 for incomes up to Rs 12 lakh ...

Income Tax Slabs: With the new regime, the threshold of income above which income is exempt from taxation remains at Rs 3 lakh, but the slabs have been tweaked so that tax incidence on the mid ...

Finance Minister Nirmala Sitharaman presented the Union Budget 2020 in the Lok Sabha on Saturday. This is the second time Sitharaman tabled the Budget after ...

Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.

CBDT extends ITR filing deadline to Sept 15, detailing penalty waivers under Section 234A and unchanged advance tax penalties ...

New Tax Regime Calculations: New tax regime revised slab rates which came into effect on April 1, 2025, made income up to Rs 12,00,000 tax-free for non-salaried individuals. For salaried individuals, ...

Income Tax Slabs and Rates (New Tax Regime – FY 2024-25) Income up to ₹3 lakh – NIL (No tax) ₹3 lakh to ₹7 lakh – 5% ₹7 lakh to ₹10 lakh – 10% ₹10 lakh to ₹12 lakh – 15% ...

The revised tax slabs under the new regime offer significant savings while ensuring simplified tax compliance. New Income Tax Slabs for FY 2025-26. Annual Income. Tax Rate. Rs 0 - Rs 4 lakh. NIL.

Budget 2025 introduced significant enhancements to the new tax regime. "The income between Rs 4 lakh and Rs 8 lakh is taxable at 5 per cent.