The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...

JCIT (A) upheld the CPC’s action, stating that under section 115BAC, once the option for the new regime is exercised, it cannot be withdrawn for the current year, only for subsequent years. However, ...

The new tax regime was introduced in the 2020 Union Budget ... provision of incorporating certain key deductions into the new format,” said Siddharth Maurya, Founder & Managing Director of ...

Finance Minister Nirmala Sitharaman announced new tax slabs in the new tax regime 2025, so there will be no income tax for ...

The government introduced a new tax regime of lower tax rates in Budget 2020, which continues in FY 2025-26. In Budget 2025, the government pushed for the adoption of the new tax regime of lower tax ...

About 74 per cent of the people have already adopted the new tax regime. I am sure that with ... it again comes back in some form through taxes. So, basically, it is an integrated sort of exercise ...

He also cited the new tax regime (NTR), where there are no deductions ... it again comes back in some form through taxes." "So, basically, it is an integrated sort of exercise," he said.

Anyone earning Rs 2.5 lakh or more in India must file an ITR. This rule applies to everyone, not just high-income earners.

Switching between the Old Regime and the New Regime is possible for individuals, allowing their annual tax regime to ...

“For a person earning Rs 12,10,000, in the absence of marginal relief, the tax would amount to ₹61,500 (5% of ₹4 lakh + 10% ...

The tax benefit comes in the form of rebate. Even a salaried person ... Read: FAQs: Government Answers Your Questions On New Income Tax Regime Let's take the example of Rs 15 lakh income.

He also cited the new tax regime (NTR), where there are no deductions ... it again comes back in some form through taxes." "So, basically, it is an integrated sort of exercise," he said.