In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Most small ...

New Tax Regime: The proposals in the Union Budget for the new tax regime include full exemption for individuals earning up to Rs 12 lakh per year. The tax slabs have been extended, with a new 25 ...

Salary income: The standard deduction of INR 75,000 will continue for new regime taxpayers, compared to INR 50,000 under the old tax regime. The new tax regime provides a total rebate of INR ...

Switching between the Old Regime and the New Regime is possible for individuals, allowing their annual tax regime to alternate between the previous and new regimes if certain conditions are met.

The Finance Ministry has clarified that this zero tax liability applies only to the new tax regime, which has been the ...

Budget 2025: Tax-free income limit under new regime rises to Rs 12 lakh Key changes to income tax slabs The FM has proposed to revise tax slabs and rates under the new tax regime. A new tax slab ...

Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant income tax relief for the middle class in the Union Budget 2025, eliminating ...

Check the latest slabs of income tax and rates under the new tax regime for those earning above Rs 12 lakh. The adjustment in income tax rates is expected to enhance consumer spending in the economy.

Among the most significant announcements was the introduction of a New Income Tax Bill, set to be tabled this week ...

The income tax reforms introduced in the budget are among the biggest in the last decade — simplified and rationalised to put more money in people's hands without compromising the fiscal deficit.