A retired individual with ₹5 lakh short-term capital gains and ₹2 lakh interest income will face a 20% tax on ₹2.5 lakh after ...

Meanwhile, resident individuals are also entitled to a rebate of up to 100 per cent of income tax subject to a maximum limit depending on tax regimes as under: ₹ 12,500 for income up to ₹ 5 lakh under ...

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

As Budget 2025 approaches, whispers of scrapping the old income tax regime have grown louder. Has the old regime lost its ...

These adjustments, announced by the IRS in October 2024, reflect an approximately 2.8 percent increase in income thresholds ...

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