Yes, it is. You get a Standard Deduction of Rs 75,000 — but only if you’re salaried or a pensioner choosing the new tax ...

In the Budget 2025, Finance Minister Nirmala Sitharaman increased the income tax rebate limit from Rs 7 lakh to Rs 12 lakh in the New Tax Regime. Effectively, individuals earning up to Rs 12 lakh will ...

The new tax regime simplifies income tax, but with fewer deductions in play, taxpayers must make the most of the available ...

Each year the Internal Revenue Service (IRS) sets new income thresholds for the various tax brackets to keep up with ...

What if someone earning above Rs 12.75 lakh annually chooses the old regime and claims the maximum deductions? Will it result in tax savings? This article explores the key deductions available under ...

What if you earn more than Rs 12.75 lakh? Should you pick the new tax regime for lower rates or stick to the old one for ...

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

The new tax regime has become quite attractive for the middle-class taxpayers. In FY 2023-24, around 74 percent of taxpayers ...

The Government of India levies tax upon the income of salaried and self-employed citizens of all age groups. Once you figure out which tax slab you fall under as per your tax regime, it becomes easier ...

The Union Budget 2025 has revamped the new tax regime, exempting individuals earning up to Rs 12 lakh annually from income ...

With a higher basic exemption limit and a full tax rebate for income up to Rs 12 lakh, the new tax regime is now a compelling ...

For individuals who do not invest heavily in tax-saving instruments, the new tax regime could be more beneficial due to lower tax rates and a higher exemption limit. However, those who claim multiple ...