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 ...

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.

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.

New tax slabs for 2025-26 increase tax-free income to ₹12.75 lakh for salaried individuals (including ₹75,000 standard ...

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

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 ...