The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...

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the CPC’s action, stating that under section 115BAC, once the option for the new regime is exercised, it cannot be withdrawn for the current year, only for subsequent years.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, ...

Switching between the Old Regime and the New Regime is possible for individuals, allowing their annual tax regime to ...

If you have seen the latest tax rates, you must have noticed that there is 5 percent tax on income between ₹4 to 8 lakh and ...

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 was introduced in the 2020 Union Budget ... provision of incorporating certain key deductions into the new format,” said Siddharth Maurya, Founder & Managing Director of ...

Agrawal discussed a range of topics, including framing of tax proposals, and why he feels most taxpayers would opt for the ...

Finance Minister Nirmala Sitharaman implemented changes to the slabs, rates, and rebates under the New Tax Regime to ...

Do you know that a large part of your earnings goes in the form of tax? But now this will not happen! The central government has made such changes in the new tax system that will leave more money in ...

With all eyes on the new Income Tax bill which is slated to be tabled in the Parliament this week. Sources in the know of the ...

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 ...

He also cited the new tax regime (NTR), where there are no deductions ... it again comes back in some form through taxes." "So, basically, it is an integrated sort of exercise," he said.