Tax laws offer plenty of room to reduce the liability of the individual through careful structuring of salary, says Sudhir ...

These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

Yes, it is. You get a Standard Deduction of Rs 75,000 — but only if you’re salaried or a pensioner choosing the new tax ...

In Budget 2025, tax slabs for the new tax regime have been revised for the next financial year (FY2526). An annual income up ...

In the Budget 2025, Finance Minister Nirmala Sitharaman increased the income tax rebate limit from Rs 7 lakh to Rs 12 lakh in the New Tax Regime. Effectively, individuals earning up to Rs 12 lakh will ...

Discover how income tax changes from Rs 0 on Rs 12 lakh earnings to Rs 61,500 on Rs 12.1 lakh, with a breakdown of tax rates and amounts.

The new tax regime simplifies income tax, but with fewer deductions in play, taxpayers must make the most of the available ...

Each year the Internal Revenue Service (IRS) sets new income thresholds for the various tax brackets to keep up with ...

What if someone earning above Rs 12.75 lakh annually chooses the old regime and claims the maximum deductions? Will it result in tax savings? This article explores the key deductions available under ...

Despite the removal of many benefits, certain allowances remain exempt under the new tax regime, providing some relief to ...

What if you earn more than Rs 12.75 lakh? Should you pick the new tax regime for lower rates or stick to the old one for ...

Introduced in 2020, the new tax regime became a default regime in 2023. To be able to file tax return under the old tax ...