Budget 2025 increased the tax rebate limit under the new regime to ₹12 lakh from FY26. If trends from previous years continue ...

a comprehensive review of the Income Tax Act is essential due to significant societal transformations since its inception in 1961. The original legislation was established when India was in its ...

New Income Tax Bill: The Union Cabinet has approved the New Income Tax Bill, which aims to replace the 1961 Act by simplifying direct tax legislation. This proposed bill, featuring clearer ...

In the Union Budget 2025, the Finance Minister announced significant changes to the new income tax regime Under ... 8,50,000 Source: EY India However, a taxpayer can choose any tax regime while filing ...

During her Budget 2025 speech, Nirmala Sitharaman announced that those with salaries up to ₹12 lakh per annum will pay nil income tax.

A new Income Tax bill -- promised by Union finance minister in her last year's budget -- will be tabled in parliament on Thursday, sources have told NDTV. The bill is meant to simplify the ...

Prior to the amendments in July 2024, as per section 111A of the Income Tax Act, 1961 (the Act), STCG on listed securities were taxed at 15 per cent. However, after amendment made by Finance (No.

These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

The Government of India ... tax-deductible investments like contribution to provident fund, payment of medical insurance premium, etc., and at the time of filing the income tax returns (ITR ...