LOWER TAX RATES UNDER THE NEW REGIME Under the old tax regime, the basic exemption limit is Rs 2.5 lakh, and the highest tax rate of 30% applies to income above Rs 10 lakh. CA (Dr) Suresh Surana ...

the government charges 25% income tax, which could be reduced to 22.5%. There is also a recommendation to introduce a new slab at 20% rate but this may not pass through the IMF scrutiny that is ...

Taxpayers will pay a 10 per cent tax on an income of Rs 8,00,001 to Rs 12,00,000. Tax for an income of Rs 12,00,001 to Rs 16,00,000 is 15 per cent. Tax for an income of Rs 16,00,001 to Rs 20,00,000 is ...

The new taxation structure for Fund of Funds (FoFs ... Short-term gains on FoFs will continue to be taxed at the marginal rate of taxation, i.e., the investor’s income tax slab rate. In contrast, pure ...

If you have an income between Rs 12 lakh to Rs 15 lakh, the rate ... the new regime, most of these deductions and exemptions are not allowed. Only a few like 80CCD(2), 80CCH, and 80JJAA are available, ...

The Union Budget 2025 has announced significant revisions to the Income Tax Act of 1961 ... The Budget 2025 introduced updated tax slab rates under Section 115BAC, which pertains to the New Tax Regime ...

The basic exemption limit will be ₹4 lakh and income above ₹24 lakh will be taxed at the highest rate of ... Section 115BAC allows individuals and Hindu Undivided Families (HUFs) to opt for a new tax ...

The Government of India levies tax upon the income of salaried and self-employed citizens of all age groups. Once you figure out which tax slab ... the new tax regime, while the rate for taxpayers ...

New Delhi: The government on Saturday explained how the tax reforms, proposed under the new income tax slabs, will benefit the middle class and ease the tax burden for them. Here are some of the ...

New Delhi: Union Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget 2025 in the Lok Sabha. In a major relief for the salaried class people, individuals earning up to Rs 12 ...

Resident individuals with a net taxable income up to Rs 12 lakh will now pay no income tax. For salaried individuals who avail of the standard deduction benefit of Rs 75,000 under the new tax regime .

112 etc.). Income tax rules on Section 87A tax rebate for FY 2025-26 In accordance with the New Tax Regime, a revised rate slab has been introduced. Under this new system, individuals earning ...