This means people earning Rs 7 lakh would be taxed at 5% instead of 10% earlier; and those earning Rs 10 lakh would be taxed at 10% instead of 15% ... in the new tax regime than in the old tax ...

Under the new income tax regime, taxpayers can now avail of a standard deduction of up to Rs 75,000, which makes an annual ...

The new tax regime also offers a higher standard deduction. Last year, it was raised from Rs 50,000 to Rs 75,000 for salaried employees. In the old regime, the standard deduction remains at Rs 50,000.

FY26 has brought with it several tax changes – the biggest one of them being the huge sweetener in the new income tax regime. This, along with major capital gains tax changes announced in July 2024 ...

But the decision between old and new tax regime ... say you earn a salary income of Rs 15 lakh in a year. So if you can claim Rs 5,93,750 as income tax deductions for the old tax regime then ...

Mumbai: With the start of the new financial year 2025-26, salaried individuals are once again facing the common dilemma — which tax regime to choose: old or new ... Till May 15; Check Full ...

15 lakhs, which can reduce their tax burden.Income tax rates applicable for individuals aged between 60 and 80 years who are senior citizens. To calculate income tax as per the old income tax slab ...

Give details of exemptions which are not allowed in the new regime such as HRA under section 10 (13A); also provide if you have income other than salary. Give details of other deductions allowed ...

Are you making right claim of refunds in your Income Tax Return — Here are the key points which you are required to know before filing your Income Tax Return!! > Every person who is having income ...

Budget 2023: An individual with a gross salary of ... pay income tax of Rs 18,200 under the old tax regime. Old Or New: which tax regime should you use for an income of Rs 15 Lakh?

Around 73 percent of taxpayers have already opted for the new tax regime while CBDT chairman recently ... to 14 per cent of the employee’s salary in 2024 from from 10 per cent earlier.

Some are drawn to the lower tax slabs offered by the new tax regime, while others prefer the old tax regime for the deductions and exemptions it allows. Here are some situations where opting for ...