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

In 2014, taxpayers were exempt from tax on income up to Rs 2 lakh. Budget 2025 has significantly expanded this relief to Rs ...

Recognizing the contributions of the middle class and with an objective to eventually phase out the old tax regime, various ...

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 ...

Income tax in India is progressive, with higher earners paying more. However, some countries levy little or no income tax, while others have some of the highest tax rates in the world. Here’s a ...

New Tax Regime The Government of India levies additional charges on individual taxpayers (irrespective of age) whose annual income exceeds INR 50 lakh. The highest surcharge limit for individuals ...

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 ...

Over 7 crore income tax returns have been filed till 7 pm on Wednesday -- the last day for filing ITRs ... "We will come up with a draft and then we will seek suggestions," Malhotra said. Currently, ...