New tax slabs for 2025-26 increase tax-free income to ₹12.75 lakh for salaried individuals (including ₹75,000 standard ...

D (health insurance), and home loan interest are just a few of the many exemptions and deductions that were available under the old tax regime. In contrast, the new regime offers lower tax slab rates ...

A plan for a hefty new tax on university endowments was crafted to target “woke” schools, lawmakers said. But a small Kansas college and a Texas medical school might also be hit. By Stephanie ...

The income tax rules allow a taxpayer to choose any tax regime while filing an income tax return. This means that an individual who has opted for the old tax regime for TDS on salary for FY 2024–25 ...

The new tax regime now offers the standard deduction benefit on salary income ... tax rates than the old regime. For example, under the old tax regime, income between Rs 5 lakhs and Rs 7 lakhs ...

if your income comes from salary, interest, or rent (basically, non-business sources). You can change your tax regime every year. If you chose the new tax regime last year, don’t worry—you can still ...

"The previous tax regime, known as the old regime, was in place before the new ... 15 lakh in 2024-25, would have paid Rs 1,30,000 as tax. From April 1, 2025, he will pay Rs 97,600. For Rs 20 lakh ...

Rs 15 lakh annual salary: Tax liability in Old Tax Regime & New Tax Regime Let's compare tax outgo under both the tax regimes: Tax liability under Old Tax Regime Under the Old Tax Regime ...

While both the old and new ... tax rate for specific tax slabs, the old tax regime has enough room for claiming deductions under Chapter VI-A against various allowances forming part of salary ...