In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Most small ...

The new tax regime simplifies income tax, but with fewer deductions in play, taxpayers must make the most of the available benefits. From housing loans to retirement exemptions, here’s what’s ...

Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant income tax relief for the middle class in the Union Budget 2025, eliminating ...

Tax on subsequent amount of 4 lakh (from 4 lakh to 8 lakh) Rs 20,000 (being 5% of Rs 4 lakh) Tax on subsequent amount of 4 lakh (from 8 lakh to 12 lakh) Rs 40,000/- (being 10% of Rs 4 lakh) Tax on ...

Check the latest slabs of income tax and rates under the new tax regime for those earning above Rs 12 lakh. The adjustment in income tax rates is expected to enhance consumer spending in the economy.

Under the proposed Union Budget 2025, a ₹60,000 rebate applies to incomes up to ₹12 lakh, enhancing the attractiveness of the new tax regime. Budget 2025 offers ₹60,000 rebate for incomes up ...

New Tax Regime vs Old Tax Regime Slabs and Rates: Finance Minister Nirmala Sitharaman has announced significant income tax relief for the middle class in the Union Budget 2025. Budget 2025 New Tax ...

Currently, the new tax regime features slabs where income up to ₹3 lakh is tax-free, while earnings between ₹3 lakh and ₹7 lakh are taxed at 5%. The rates continue to increase, reaching 30% ...

New vs Old Tax Regime: In a major relief for taxpayers, the Union Budget 2025 has revamped the new tax regime, exempting individuals earning up to Rs 12 lakh annually from income tax. In a major ...

Tax payers have the option to choose between two tax systems - the old tax regime and new tax regime. The old tax regime allows exemptions on housing rentals, insurance and other long-term ...

The tax slabs under the new regime have been revised in Budget 2025. A salaried individual will pay zero tax for annual income up to Rs 4 lakh. In the Rs 4 lakh - to Rs 8 lakh bracket, 5 per cent ...

Introduced in 2020, the new tax regime became a default regime in 2023. To be able to file tax return under the old tax ...