With the ITR filing season underway for FY 2024-25, senior citizens in India—especially pensioners—stand to gain from several ...

So, having a ₹10 lakh salary ... example, HRA makes up the largest chunk of the total exemption. This means if the taxpayer pays low rent, even claiming HRA may not make the old tax regime ...

Note:The slabs and rates of tax in the 'Proposed New Tax Regime Slab Rate' column apply ... To calculate income tax as per the old income tax slab, you need to follow a few steps.

"It is provided that where resident individuals opt for the new tax regime of Section 115BAC, the incomes chargeable to tax at special rates (for example ... slab rates, such as salary or business ...

For salaried individuals who chose the new regime this financial year, employers will have deducted less tax at source (TDS) based on the new slab ... salary has increased this year with an example.

The input-tax-credit system in GST regime in manufacturing ... should be in round figures. For example, presently local Speed Post tariff for the first 50 gms slab is rupees 18 which can be ...

In a world where most tax-saving avenues are bound by caps, the NPS tax benefit stands out for its additional layers of deductions. For individuals earning above ₹12 lakh annually, NPS offers a ...

The same are listed out as under: Under the old tax regime ... for example employee of Autonomous bodies/societies, trusts, etc in respect of so much of period of encashed leave as does not exceed 10 ...

Since the government brought the new tax regime ... salary components that are exempt under the old system, it’s worth doing the math before making the switch. The old regime still remains ...

This means all taxpayers are meant to file their tax return as per the new regime, however they were also given the option of filing return under the old regime as well. III. Capital gains tax ...