If you choose the new tax regime, you would not be able to claim the following 7 major deductions, check them out.

The New Tax Regime comes with easy slabs, ... Your income falls in a higher tax bracket. The highest tax rate of 30% in the old tax regime applies to income of Rs 10 lakh, ...

In the new tax regime, most deductions cannot be claimed, barring the deductions given under sections 80CCD(2)/ 80CCH and 80JJAA as per the provision of Section 115BAC of the Income Tax (I-T) Act ...

Unlock higher tax refunds for FY 2024–25 by understanding eligible deductions (80C, 80D, HRA), utilising presumptive taxation, and avoiding common ITR filing errors like data mismatches and incorrect ...

In the Budget this year, FM Nirmala Sitharaman tweaked the tax slabs. The current income slab, ranging from Rs 3-6 lakh, which is subject to taxation, will be raised to a higher bracket of Rs 3-7 ...

Choose old tax regime for these reasons. I. When you have investments made in tax-free investments: The old tax regime allows taxpayers to claim income tax deductions on a wide range of ...

In his winding-up speech, Mr Aurangzeb informed the National Assembly that the proposed measures aim to offset the revenue ...

For the initial tax bracket ranging from 0 to Rs 4,00,000, the applicable rate is 0%. When computing tax on Rs 18.75 lakh, the first Rs 4 lakh attracts no tax.

Muscat – Oman will implement a 5% income tax on individuals with annual earnings exceeding RO42,000 starting January 2028, ...

The president is said to want to create a new top income bracket for people making more than $2.5 million per year and to tax income above that level at a rate of 39.6 percent.

A reform has long been desired by the 6.8 crore individual taxpayers, 1.5 crore registered firms, as the introduction of a ...

Income Tax Slabs: With the new regime, ... "The Rs 7.5-10 lakh bracket is levied at 10 per cent and the Rs 10-12.5 lakh bracket now attracts a 15 per cent rate, falling from 20 per cent.