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 ...

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 ...

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 ...

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 ...

Budget 2025 Expectations: In Budget 2020, the Modi government announced the introduction of the New Tax Regime, offering taxpayers the option to benefit from lower tax rates under simplified tax ...

You’ll see a much more linear document. Latest data shows almost 3 out of 4 assesses are moving to the New Income Tax regime even when it gives no exemption. How do you read this trend?

According to the SBI research report, one of the suggestions include transitioning all taxpayers to the new tax regime. Image: Representational/Pixabay This comes ahead of Union Budget 2025-26, which ...

Old Tax Regime vs New Ta Regime: Taxpayers often find themselves in a quandary when it comes to selecting the most suitable income tax regime. The Income Tax Department allows individuals to ...

Following the tax reforms in the country, United Bank for Africa (UBA) Plc is set to host a Knowledge Series webinar specifically dedicated towards informing and educating small and medium ...

In the Union Budget 2025, Finance Minister Nirmala Sitharaman is expected to adjust the personal income tax rules under the ...

The government's flagship, simplified New Tax Regime has slowly but surely gained tax payers' acceptance. In Assessment Year ...