How to Opt for Old Tax Regime Currently, a taxpayer with income from a business or profession is required to file Form 10IE to opt for the new tax regime. This form was introduced in October 2020.
The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...
The government introduced a new tax regime of lower tax rates in Budget 2020, which continues in FY 2025-26. In Budget 2025, the government pushed for the adoption of the new tax regime of lower tax ...
Finance Minister Nirmala Sitharaman announced new tax slabs in the new tax regime 2025, so there will be no income tax for ...
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 ...
About 74 per cent of the people have already adopted the new tax regime. I am sure that with ... it again comes back in some form through taxes. So, basically, it is an integrated sort of exercise ...
Anyone earning Rs 2.5 lakh or more in India must file an ITR. This rule applies to everyone, not just high-income earners.
"By virtue of the rebate only taxpayers with incomes up to Rs 12 lakh under the new regime would not have to pay any tax ...
In a major relief for the middle class, Finance Minister Nirmala Sitharaman announced that individuals earning up to Rs 12 ...
Finance Minister Nirmala Sitharaman presented the Union Budget 2025 on February 1, introducing a series of tax reforms, aimed at fostering economic growth, simplifying tax compliance, and ...
JCIT (A) upheld the CPC’s action, stating that under section 115BAC, once the option for the new regime is exercised, it cannot be withdrawn for the current year, only for subsequent years. However, ...
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