Finance Minister Nirmala Sitharaman’s Budget 2024 modified income tax slabs, favouring the new tax regime. The old regime, ...

Meanwhile, resident individuals are also entitled to a rebate of up to 100 per cent of income tax subject to a maximum limit ...

A unified tax structure that converges elements of the Old and New Tax Regimes can simplify compliance while retaining taxpayer benefits. The following rationalized tax slab structure combines the ...

While the old regime allows for various exemptions and deductions, the new regime offers reduced tax rates with limitations ...

Currently, as per Section 24 of the Income-tax Act, 1961 (referred to as ‘the IT Act’), individuals can claim a deduction of ...

The countdown for the union budget has officially begun as we enter the new year. As Finance Minister Nirmala Sitaraman will ...

The upcoming budget may focus on the new income tax regime yet again to increase its appeal compared to the old tax regime.

India's Budget 2025 may potentially abolish the old tax regime. The new tax regime, default since 2020-21, offers simplified, ...

Also, the return-filing process needs to be simplified for NRIs, who are facing several challenges as tax refunds are not ...

Salaried employees opting for the old tax regime for FY 2024-25 must submit investment proofs to claim exemptions and ...

India currently offers two tax regimes: the old regime with higher tax rates and more exemptions, and the new regime with ...

Submitting tax-saving proofs on time not only reduces TDS but also streamlines your tax compliance. While the new tax regime ...