The new tax regime, introduced in Budget 2020 and revised in Budget 2023, provides lower tax rates but removes most exemptions and deductions.

Ans. Earlier the limit of income for nil tax payment was Rs 7 lac. By increasing this limit to Rs 12 lakh around one crore assessees who were earlier required to pay tax varying from Rs 20,000 to Rs ...

For the salaried and pensioners, there’s the standard deduction of ₹75,000, which pushes up the tax-free limit to ₹12.75 lakh ...

Finance Minister Nirmala Sitharaman announced the new tax slabs under the new tax regime, thus offering tax saving for taxpayers. There will no income tax for salaried taxpayers earning upto ₹12.75 ...

Contrary to the general perception that the new tax regime is available only to individuals, it is actually applicable to all individuals, Hindu Undivided Families (HUFs), Associations of Persons ...

The government on Saturday explained how the tax reforms, proposed under the new income tax slabs, will benefit the middle ...

Minutes after the announcement of new tax slabs by Union Finance Minister Nirmala Sitharaman, they realised that they will be saving about ₹20,000-₹25,000 as a couple, which they aim to invest in the ...

Nirmala Sitharaman's eighth consecutive Budget is the relief for middle-class salaried taxpayers, though the revised tax ...

Finance Minister announced changes in individual income tax slab rates in her Budget 2025. Let us look into the New Income ...

Tax Rebate under Section 87A is given to reduce your taxable income to nil. It is a better option to give tax relief through the tax rebate than changing the tax slabs. This is because to get this tax ...

FM Nirmala Sitharaman announced major income tax relief, with no tax payable on income up to Rs 12 lakh. New tax regime to be ...