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

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

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 ...

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

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

Budget 2025 is scheduled to be presented on February 1, 2025. The Budget will announce proposals for the FY 2025-26.

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

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

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

This has reignited the debate between the New Tax Regime and the Old Tax Regime, with individuals weighing the benefits of ...

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

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