MUMBAI: Though the new ... up to 9.5% under Section 10(12), Sukanya Samriddhi accounts under Section 10(11A), and Post Office savings accounts under Section 10(15) is exempt under the new tax ...

As the income tax filing season for Assessment Year 2025-26 approaches, millions of Indian taxpayers face a crucial decision: whether to opt for the old tax regime or the new ... Rs 5,00,001 to Rs ...

Small businesses and professionals with turnovers up to ₹2 crore and ₹24 lakh see an opportunity to pay zero tax through the presumptive taxation option under the new regime. But, some experts ...

there were no exemptions under section 10 in the new tax regime, but now some have been included: Voluntary Retirement (VRS): Up to Rs 5 lakh is deductible. Gratuity: Fully exempted for government ...

Tax Regimes in 2025-26: The New Tax Regime is known to offer reduced slabs ... tax deductions on the principal amount invested up to Rs 1.5 lakh per year under Section 80C of the Income Tax ...

The Union Budget 2025 introduces a new approach towards personal income tax by rolling out some key changes to the new tax regime ... tax on income of up to Rs 4 lakh, then 5% on income between ...

Salaried individuals opting for the new tax regime will be exempted from paying taxes on income up to Rs 7 lakh for the ... for tax exemptions. Section 10(5) pertains to leave travel allowance ...

You can do such set-off for only up to Rs 2,00,000 in tax benefits in a financial year. Know Your Income Tax: What will be your tax liability on salary of Rs 7.50 lakh, Rs 15 lakh, Rs 22.5 lakh or Rs ...

From this year onwards, the new tax regime is expected to be more beneficial for the majority of individuals. Under the new system, individuals with a taxable annual income of Rs 25 Lakhs or more ...

Roughly 5% of IRS employees and contractors weren’t fully caught up on their obligations, according to the Treasury’s Office of the Inspector General. Earlier this week, ahead of Tax Day ...

Budget 2025 introduced simpler tax ... new tax regime. Income of up to Rs 12.75 lakh is now effectively free of tax, due to changed slab rates and an increased standard deduction of Rs 75,000. The new ...