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 ...

making way for the new tax regime as the sole option—potentially with greater flexibility and lower tax liabilities for taxpayers. Since the introduction of the new tax regime in the Union ...

Currently, taxpayers have the option to choose between two tax systems - the Old Tax Regime and the New Tax Regime. Following the Union Budget 2023, the New Tax Regime is now the default option.

Following the Union Budget 2023, the New Tax Regime serves as the default option. Taxpayers must indicate their chosen tax regime while submitting their proofs and when filing their tax return.

Ahead of Budget 2025, the SBI research report has suggested a slew of measures to push tax reforms, including bringing all under the New Tax Regime ... across various options with least revenue ...

From April 1, 2023, the new tax regime has been set as the default option. This means that unless an individual explicitly opts for the old tax regime, their income tax liability will be computed ...

The Central Government has introduced the Unified Pension Scheme (UPS) as an option under the National ... has made efforts to promote the new tax regime by making it more attractive, encouraging ...

In terms of GST-specific amendments, Budget 2025 also focused on pre-deposit amounts for GST appeals, reducing penalties for E-way bill violations and introducing a 10% penalty for other infractions.

Section 87A tax rebate: Tax Rebate under Section 87A is given to reduce your taxable income to nil. It is a better option to give tax relief through ... deduction benefit of Rs 75,000 under the new ...

We welcome the Budget 2025-26 for its strategic focus on housing, economic resilience, and tourism-led growth. The Rs 15,000 ...