Summary: The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, focused on reforms in taxation, agriculture, MSMEs, and exports. Direct tax proposals included no tax on incomes up to ...

There is speculation among experts that FM Nirmala Sitharaman may introduce additional provisions to the New Tax Regime, which currently serves as the default tax regime. India's current tax ...

Finance Minister Sitharaman introduced key changes to the income tax slabs under the new tax regime to make them more attractive for taxpayers. Along with adjustments in the tax slabs, the ...

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 ...

The government has proposed introduction of a tax rebate for individuals having taxable income of up to Rs.12 lakh per annum in the new tax regime. If we include standard deduction of Rs.75,000, ...

Additionally, two-thirds of personal tax filers have opted for the new tax regime. The government is undertaking a thorough review of the Income Tax Act, with completion expected within the next ...