Key amendments introduced under the new tax regime for FY 2025-26 (AY 2026-27) 2. No Tax upto 12 lakh Enhanced Tax Rebate (Section 87A): The tax rebate under Section 87A has been enhanced and ...
Hosted on MSN12d
Tax: Till now you were taking tax exemption in the old regime, now you have to go to the new regime, what is its process..In the budget presented on February 1, 2025, Finance Minister Nirmala Sitharaman directly excluded income up to Rs 12 lakh ...
If they opt out of the new regime, they can switch back only once by filing the required form. For taxpayers without business income: They can simply select the old tax regime while filing their ...
Taxpayers attention! Form 16 and Form 24Q formats changed; some other major updates in CBDT circular
The CBDT circular has been issued on 20 February 2025, and it will be applicable to the tax returns of the financial year 2024-25 (i.e. assessment year 2025-26).
Tax slabs in the new tax regime are provided in tabular format. However, it does not provide a table for the tax rates for the old tax regime. Are you required to choose the New Tax Regime once ...
Those earning up to Rs 12 lakh annually won't have to pay any income tax under the new regime. Add to it the standard deduction of Rs 75,000 and taxpayers with up to Rs 12.75 lakh annual income ...
With just a few weeks to go before the end of the tax year on 5 April, what are the financial planning aspects to consider ...
The new tax regime has been put in chapter XIII of the ... Various provisions have been summarised in tabular format such as TDS provisions, presumptive taxation rates, assessment time limits ...
The primary distinction between these forms lies in their purpose: Form 10IE is utilized to opt for the new tax regime, whereas Form 10IEA is utilized to select the old tax regime. Form 10IE is ...
Some results have been hidden because they may be inaccessible to you
Show inaccessible results
Feedback