The Union Budget 2025, presented in the Parliament Session on February 1, 2025, introduced major reforms in exemptions and deductions under the new tax regime for the Financial Year (FY) 2025-26 and ...

The new tax regime – the default – offers a basic exemption limit of Rs 3 lakh for all individuals, regardless of age. This ...

What if you earn more than Rs 12.75 lakh? Should you pick the new tax regime for lower rates or stick to the old one for ...

New Income Tax Bill retains provisions from 1961 Act, offers flexibility, transparency, and aims to simplify tax laws.

Understand the major updates in India’s Income Tax Bill 2025, including tax law simplification and a shift to a unified tax ...

This tool allows individuals to compare their tax liability under both the old and new tax regimes by entering their income ...

The Income Tax Department has introduced an online calculator for taxpayers to compare their potential savings under the newly default New Tax Regime, effective April 2025. The initiative aims to ...

The Institute of Chartered Accountants of India (ICAI) has been tasked by the Finance Ministry to scrutinise the new Income ...

The new Income Tax Bill, tabled today in the Lok Sabha, retains all the deductions and exemptions but under new section ...

The new Income Tax Bill is more about consolidation of scattered tax provisions, simplification and elimination of redundant laws than about rate ir ...

One key update is the introduction of a “tax year,” which refers to the 12-month period starting from April 1, effectively ...

The new tax regime introduces revised tax slabs for individual taxpayers. While the exact slab rates are not detailed in this summary, the bill specifies that: The tax rates for individuals have ...