To switch or not: New income tax regime throws a googly at taxpayers
4 years, 11 months ago

To switch or not: New income tax regime throws a googly at taxpayers

India Today  

Every year after budget concludes there is one question most working-class individuals and business owners ask: Am I going to pay less or more tax? A 15 per cent income tax will now apply to people earning Rs 7,50,000 to Rs 10,00,000 under the new regime. Economists said the new tax regime is good for people claiming low deductions or exemptions under Income Tax rules. For instance, a person earning Rs 7.5 lakh annually and claiming deductions on investments under Income tax rules will pay almost half in comparison to the Rs 39,000 outgo in the new tax system. Winners & Losers Under New Regime The government has already defended its tax move and said 90 per cent income tax filers in India claim tax deductions less than Rs two lakh.

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History of this topic

Budget 2025: Does old tax regime still make sense or should it be scrapped?
1 day ago

Budget 2025: Does old tax regime still make sense or should it be scrapped?

India Today  

Imagine having to choose between two restaurants - one offers a straightforward fixed menu at a lower price, while the other has a slightly higher base price but comes with customisable sides, drinks, and desserts that could ultimately save you money. "The old tax regime should not be scrapped as it still provides benefits for the taxpayers claiming deductions up …

Income tax slab for AY 2025-26: Which is better, the old tax regime or the new tax regime?
2 days, 2 hours ago

Income tax slab for AY 2025-26: Which is better, the old tax regime or the new tax regime?

Live Mint  

In Budget 2024, Finance Minister Nirmala Sitharaman introduced changes to the income tax slabs to make the new tax regime more appealing to taxpayers. Income tax slab for FY 2024-25: New tax regime ₹0- ₹3 lakh - Nil ₹3-7 lakh - 5% ₹7-10 lakh - 10% ₹10-12 lakh - 15% 12-15 lakh - 20% Above ₹15 lakh - 30% Income …

Budget 2025: Salaried earners up to Rs 15 lakh may get tax relief. Details here
2 days, 8 hours ago

Budget 2025: Salaried earners up to Rs 15 lakh may get tax relief. Details here

India Today  

The upcoming Budget 2025-26 is likely to introduce significant tax benefits aimed at individuals earning up to Rs 15 lakh annually. BOOSTING SPENDING POWER AMID INFLATION The government’s focus appears to be on easing the burden on individuals earning Rs 13–14 lakh annually, especially in urban areas, where inflation has eroded purchasing power, according to sources. Experts believe that revising …

Budget 2025: How new tax regime evolved over the years and what's next?
Top News
2 days, 22 hours ago

Budget 2025: How new tax regime evolved over the years and what's next?

India Today  

As the Union Budget 2025 approaches, there is increasing anticipation regarding potential incentives aimed at encouraging taxpayers to opt for the new tax regime. EVOLUTION OF THE NEW TAX REGIME: A TIMELINE The new tax regime, introduced by Finance Minister Nirmala Sitharaman in Budget 2020, was designed to simplify the taxation process by reducing tax rates and eliminating most exemptions …

Budget 2025: Will new income tax regime steal the spotlight again?
3 days, 1 hour ago

Budget 2025: Will new income tax regime steal the spotlight again?

India Today  

With the Union Budget 2025 less than a month away, industry bodies are urging Finance Minister Nirmala Sitharaman to deliver substantial personal tax relief to individual taxpayers. The Confederation of Indian Industry has recommended lowering marginal tax rates for individuals earning up to Rs 20 lakh annually, noting that such a move could stimulate a positive consumption cycle, foster growth, …

ITR filing: 5 new tax regime features every taxpayer must know
4 days, 8 hours ago

ITR filing: 5 new tax regime features every taxpayer must know

India Today  

The revamped income tax slabs introduced in Budget 2024 bring significant relief to taxpayers, enabling savings of up to Rs 17,500 annually under the new tax regime. REVAMPED INCOME TAX SLABS The new tax regime offers simplified and attractive slab rates, with no tax on income up to Rs 3 lakh, 5% for Rs 3–7 lakh, 10% for Rs 7–10 …

Budget 2025: 5 reforms that could make new tax regime a better deal for you
Trending News
1 week ago

Budget 2025: 5 reforms that could make new tax regime a better deal for you

India Today  

Finance Minister Nirmala Sitharaman is expected to present the Union Budget 2025 on February 1, 2025. The new tax regime is expected to take centre stage in the budget, with reforms designed to make it a more attractive alternative to the traditional tax structure. POSSIBLE REFORMS IN THE NEW TAX REGIME The upcoming budget could include several changes to the …

Budget 2025: Will the old tax regime face the axe?
1 week, 4 days ago

Budget 2025: Will the old tax regime face the axe?

India Today  

With the Union Budget 2025 around the corner, speculation is rife about the fate of the Old Tax Regime. The government has taken steps to simplify taxation through the New Tax Regime, but concerns remain over the potential elimination of the old system, which offers extensive deductions and exemptions. COMPARING OLD AND NEW TAX REGIMES The Old Tax Regime, a …

Income Tax: New tax regime continues to allow these deductions and exemptions
1 week, 6 days ago

Income Tax: New tax regime continues to allow these deductions and exemptions

Live Mint  

With the new tax regime becoming the default regime lately, several taxpayers are anxious about having lost the eligibility to claim deduction. What, however, is not known to many people is that some deductions and exemptions are still allowed in the new tax regime. New tax regime: These deductions are still allowed 1.Standard deduction: Standard deduction amounting to ₹75,000 or …

10 income tax changes in 2024: What you need to know for filing ITR in 2025
2 weeks ago

10 income tax changes in 2024: What you need to know for filing ITR in 2025

India Today  

The year 2024 brought significant changes to income tax laws, altering how taxpayers will approach filing their Income Tax Returns in 2025. These reforms—ranging from revamped tax slabs to new rules for capital gains and TDS—promise to impact how you plan, save, and file your Income Tax Return in 2025. REVISED INCOME TAX SLABS UNDER THE NEW REGIME The new …

Government may consider tax relief for income of up to Rs 10.50 lakh: Report
2 weeks, 1 day ago

Government may consider tax relief for income of up to Rs 10.50 lakh: Report

India Today  

The government is reportedly considering a tax cut for individuals earning up to Rs 10.5 lakh annually, potentially providing significant relief to middle-class taxpayers. As of now, taxpayers can choose between two systems: the traditional structure, which provides exemptions for expenses like housing rentals and insurance, or the newer regime, which offers lower tax rates but eliminates most exemptions. One …

ITR filing: How the new tax regime impacts your taxes – 6 key things to know
2 weeks, 1 day ago

ITR filing: How the new tax regime impacts your taxes – 6 key things to know

Live Mint  

Taxpayers are required to pay their income tax as per the New Tax Regime from FY 2023-24 onwards after it became the default regime. Notably, the new tax regime enables you to compute income tax at a relatively lower slab rate, but in return, you must forgo most of the exemptions that are offered against your investments. For instance, under …

Income tax relief in Budget 2025? Economists push for cuts to help save more
2 weeks, 2 days ago

Income tax relief in Budget 2025? Economists push for cuts to help save more

India Today  

Economists have urged the government to reduce income tax rates and introduce reforms to support savings and economic growth in the upcoming Union Budget 2025, reported The Economic Times. Lower tax rates for lower-income groups, they noted, would directly impact household budgets, improve financial stability, and potentially lift overall consumption levels. ECONOMIC URGE TAX RELIEF WITH PM MODI During the …

Budget 2025: FM should introduce new tax slab for individuals who adopt renewable energy, reduce carbon emissions
2 weeks, 4 days ago

Budget 2025: FM should introduce new tax slab for individuals who adopt renewable energy, reduce carbon emissions

Live Mint  

Finance minister Nirmala Sitharaman is set to present her second comprehensive budget after the 2024 general elections. The old tax regime with the regular income slabs and eligible deductions/exemptions and the new tax regime with relatively wider income slabs and lower tax rates, without most deductions/exemptions available in the old tax regime. A unified tax regime with widened income slabs …

Relief to middle class? Inflation offsets hike in tax exemption limit
1 month, 3 weeks ago

Relief to middle class? Inflation offsets hike in tax exemption limit

New Indian Express  

NEW DELHI: The government recently claimed that Income tax burden on the common man has come down in the last 10 years, thanks to the Narendra Modi-led government’s various measures. It claimed that taxpayers in the Rs 2.5-7 lakh tax bracket who paid on an average Rs 25,000 in FY14 are now paying zero tax. Fast forward to FY 2024-25, …

How to switch to old tax regime from new tax regime for filing income tax
5 months, 1 week ago

How to switch to old tax regime from new tax regime for filing income tax

Hindustan Times  

The current income tax rules does provide the freedom for taxpayers to choose between the new tax regime and the old tax regime based on whichever may be more advantageous to them. Is it possible to switch to the old tax regime after choosing the new tax regime? Is the old tax regime or the new tax regime better? The …

Budget 2024: Is the new income tax regime beneficial for all salaried taxpayers?
5 months, 2 weeks ago

Budget 2024: Is the new income tax regime beneficial for all salaried taxpayers?

Hindustan Times  

The government is nudging salaried income taxpayers to move to a new regime, which it says is simpler and offers lower rates of taxes. In her 2020 budget speech introducing the new tax regime, finance minister Nirmala Sitharaman noted that the income tax law allowed more than 100 exemptions and deductions. Those who had made certain investment decisions to benefit …

New income tax regime: Check how much tax you will pay now
5 months, 2 weeks ago

New income tax regime: Check how much tax you will pay now

India Today  

Finance Minister Nirmala Sitharaman announced key changes to the New Income Tax regime, tweaking tax slabs and increasing the standard deduction. Read Full Budget 2024 Coverage The Finance Minister highlighted that over two-thirds of tax filers chose the new personal income tax regime in the last fiscal year. New Tax Regime after revision The revised tax slabs under the New …

Budget 2024: Time to opt out of old tax regime? Explained
5 months, 2 weeks ago

Budget 2024: Time to opt out of old tax regime? Explained

Hindustan Times  

The message from Budget 2024 was loud and clear: say goodbye to the old income tax regime. Union finance minister Nirmala Sitharaman proposed three key changes in the new tax regime, while the old one was left untouched. If your deductions and exemptions exceed the break-even amount, go for the old tax regime, otherwise the new tax regime will be …

Budget 2024 | Old or new tax regime: Which will be more beneficial for you? Know here
5 months, 2 weeks ago

Budget 2024 | Old or new tax regime: Which will be more beneficial for you? Know here

India TV News  

Budget 2024: In the Budget, Finance Minister Nirmala Sitharaman did not make any changes in the old tax regime but increased the exemption limit in the new tax regime, making it more advantageous than before. Proposed tax structure under new tax system 0-3 lakh: Nil 3-7 lakh: 5% 7-10 lakh: 10% 1-12 lakh 15% 12-15 lakh 20% Above 15 lakh: …

The rationale for the tax proposals
5 months, 2 weeks ago

The rationale for the tax proposals

The Hindu  

The 2024-25 Budget is not just an account of receipts and expenditures for the financial year; it also sets the stage for several years in terms of expectations. Budget 2024 |Middle class discontented, real estate sector applauds tax reforms Regarding the general proposals, two sets pique interest — first, those relating to capital markets and second, those relating to the …

Budget 2024: How the changes in new tax regime will benefit the salaried, explained
5 months, 2 weeks ago

Budget 2024: How the changes in new tax regime will benefit the salaried, explained

Hindustan Times  

Salaried income taxpayers shifting to the new tax regime stand to save up to ₹17,500 in income tax, finance minister Nirmala Sitharaman announced in presenting the Union budget 2024. The finance minister announced increased standard deduction for those opting to file their tax returns under the new regime and also widened the tax slabs to give relief. Increase in the …

Union Budget 2024: Should you pick new tax regime? How can you save Rs 17,500 in income tax every year?
5 months, 2 weeks ago

Union Budget 2024: Should you pick new tax regime? How can you save Rs 17,500 in income tax every year?

Firstpost  

In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced a revision of tax slabs under the new regime. The lowest slab in the new tax regime increased to Rs 3 lakh from Rs 2.5 lakh. The tax structure is proposed to be revised as follows: No tax for those earning up to Rs 3 lakh 5 per cent tax …

Budget 2024: How the new tax regime announced by Sitharaman will impact taxpayers?
5 months, 2 weeks ago

Budget 2024: How the new tax regime announced by Sitharaman will impact taxpayers?

India TV News  

Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. In a significant move, Sitharaman unveiled new income tax slabs under the revised tax regime. Here are the new and old income tax slabs New income tax slabs 0-3 lakh: Nil 3-7 lakh: 5% 7-10 lakh: 10% 1-12 lakh 15% 12-15 lakh 20% …

Calculation: Will you pay more income tax or less after Budget 2024 changes?
5 months, 2 weeks ago

Calculation: Will you pay more income tax or less after Budget 2024 changes?

Firstpost  

The government has introduced a simplified tax regime for the fiscal year 2024-25, aimed at streamlining the tax structure to make it more taxpayer friendly. As we move to higher income levels, for the range of Rs 1,500,000 to Rs 5,000,000, the tax rate is set at 30 per cent with an effective tax rate of 31.20 per cent. For …

Old vs proposed income tax slabs under new regime. What has changed?
5 months, 2 weeks ago

Old vs proposed income tax slabs under new regime. What has changed?

Hindustan Times  

Union finance minister Nirmala Sitharaman on Tuesday proposed a new tax structure under the new regime. Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty The new tax slabs under the new income tax regime will be effective from April 1, 2024.. Proposed Tax Structure: Income up to ₹ 3,00,000: Nil 3,00,000: Nil ₹ …

FM Says Salaried Employees Under New Tax Regime To Save Rs 17,500 Annually, Here's How
5 months, 2 weeks ago

FM Says Salaried Employees Under New Tax Regime To Save Rs 17,500 Annually, Here's How

News 18  

Budget 2024: Salaried employees under new tax regime to save up to Rs 17,500 annually in taxes due to changes proposed in Budget FY25, announced Finance Minister Nirmala Sitharaman on Tuesday. The new tax slabs under the new income tax regime will be effective from April 1, 2024.. FM proposed the following changes in the new tax regime; – Standard …

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know
5 months, 2 weeks ago

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know

India TV News  

Union Budget 2024: The general population, particularly those in the salaried and middle-class brackets, are anticipating significant relief measures from the government through the budget being presented today. They recommend raising the 30 per cent tax slab to apply on income exceeding Rs 20 or 25 lakh, instead of the current Rs 15 lakh limit. Additionally, there is a call …

New tax regime slabs revised, standard deduction hiked to Rs 75,000. Details here
5 months, 2 weeks ago

New tax regime slabs revised, standard deduction hiked to Rs 75,000. Details here

India Today  

Finance Minister Nirmala Sitharaman revamped income tax slabs under the new regime in Union Budget 2024 in a bid to make it more attractive. The Finance Minister said that the tweaked tax slabs would save salaried individuals Rs 17,500 annually under the new regime. The updated tax slabs are as follows: income up to Rs 3 lakh will be taxed …

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23
5 months, 3 weeks ago

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23

Hindustan Times  

Finance minister Nirmala Sitharaman is set to present the Union Budget on July 23. Taxpayers are expecting a potential hike in standard deduction, relief in income tax rates and an increase in Section 80C exemptions in the Budget. Experts believe that adjustments to income tax slab rates could be seen in the Budget as the Finance Minister might announce tax …

Budget 2024: This change to old income tax regime can provide relief to millions
5 months, 3 weeks ago

Budget 2024: This change to old income tax regime can provide relief to millions

India Today  

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024 on July 23, and as usual, a key demand amongst citizens is for tax relief. While reports indicate that the government may introduce measures to enhance the appeal of the new income tax regime, taxpayers are also hoping for a revamp of the old regime, which offers the …

Budget 2024: Low-income individuals likely to get big tax relief, says report
6 months, 2 weeks ago

Budget 2024: Low-income individuals likely to get big tax relief, says report

India Today  

The government is considering significant tax cuts for lower-income individuals in the upcoming Budget 2024, marking the first such relief in seven years, reported Bloomberg. Lower tax rates, new tax slabs Salaried taxpayers earning between Rs 5 lakh and Rs 15 lakh annually, currently taxed at rates ranging from 5% to 20% under the new income tax regime, could benefit …

Budget 2024: Exemption limit under new tax regime may be hiked to Rs 5 lakh, says report
6 months, 3 weeks ago

Budget 2024: Exemption limit under new tax regime may be hiked to Rs 5 lakh, says report

India Today  

The government plans to raise the income exempt from tax under the new regime from the current Rs 3 lakh to Rs 5 lakh in the forthcoming full budget, reported moneycontrol.com. Officials also said that the government is unlikely to accept a proposal from industry representatives to lower the top individual income tax rate from 30% to 25% in the …

Budget 2024: Which income categories can expect tax relief?
6 months, 3 weeks ago

Budget 2024: Which income categories can expect tax relief?

India Today  

The government is considering a reduction in tax rates for specific categories of salaried individuals, aimed at boosting consumption, reported news agency Reuters. The reduction in tax rates could be part of the upcoming budget announcement in July by Finance Minister Nirmala Sitharaman, the report said, citing two government officials. Potential tax relief The anticipated tax relief could benefit individuals …

Major Income Tax Reforms Effective From April 1: What You Need To Know
9 months, 2 weeks ago

Major Income Tax Reforms Effective From April 1: What You Need To Know

ABP News  

In the wake of the new fiscal year, April 1, 2024, sweeping changes in the tax landscape herald major implications for personal finances. Streamlined Slabs & Expanded Basic Exemption Limit Under the new tax regime, the minimum tax threshold has been raised from Rs 2.5 lakh to Rs 3 lakh. Increased Tax Rebate Threshold Individuals opting for the new tax …

Budget 2024: No change in tax regime this year; check old, new tax slabs
11 months, 1 week ago

Budget 2024: No change in tax regime this year; check old, new tax slabs

India TV News  

Union Finance Minister Nirmala Sitharaman, during the presentation of the interim Budget on Thursday, announced that there would be no changes to taxation, and she proposed to retain the same direct and indirect tax rates, including import duties. Income between Rs 3-6 lakh taxed at 5 per cent. Income between Rs 6-9 lakh taxed at 10 per cent. Income between …

Budget 2024: 6 key changes taxpayers want from FM Sitharaman
11 months, 1 week ago

Budget 2024: 6 key changes taxpayers want from FM Sitharaman

India Today  

Finance Minister Nirmala Sitharaman is set to present the Interim Budget 2024-25 on February 1, covering the initial three months of the next fiscal year. While hopes for a new 25 per cent high-income tax slab are slim, expectations include increased basic exemption, standard deduction, and higher limits for 80C & 80D," Ravi said. NPS deduction under new tax regime …

Budget 2024: Old vs new tax regime, which is better for salaried employees?
11 months, 1 week ago

Budget 2024: Old vs new tax regime, which is better for salaried employees?

Hindustan Times  

The new tax regime was introduced in Union Budget 2020 under which the tax slabs were altered and taxpayers were offered concessional tax rates. In Union Budget 2023, the government introduced crucial changes to encourage taxpayers to adopt the new tax regime. This implies that taxpayers with income up to ₹7 lakhs will not have to pay any tax at …

Interim Budget 2024: Will new income tax regime get another makeover?
11 months, 2 weeks ago

Interim Budget 2024: Will new income tax regime get another makeover?

India Today  

As Finance Minister Nirmala Sitharaman gears up to announce the Interim Budget 2024-25, the new income tax regime is in focus again. Deduction for interest on housing loans Salaried individuals with housing loans are cautious about shifting to the new tax regime due to the potential loss of home loan interest deductions. Abhishek Soni suggests that extending the deduction for …

More Than 5 Crore Taxpayers Opt for New Tax Regime 2023
1 year, 4 months ago

More Than 5 Crore Taxpayers Opt for New Tax Regime 2023

News 18  

Finance Minister Nirmala Sitharaman announced income tax relief, especially for those with salaried incomes in the 2023-24 Budget. The new tax regime grants tax exemption for income between 0 to 3 lakh rupees. Individuals earning income ranging between Rs 3 to 6 lakh are taxed at a 5 per cent rate, while those between 6 to 9 lakh face a …

10 Income Tax Rules That Are Changing From April 1, 2023
1 year, 9 months ago

10 Income Tax Rules That Are Changing From April 1, 2023

News 18  

The income tax laws have undergone numerous changes, and they will take effect this fiscal year. Some of the main changes that will take effect on April 1, 2023, include raised tax rebate limits, changes to income tax slabs, and the elimination of the LTCG tax benefit on certain debt mutual funds. Let’s examine the changes:- 1) New income tax …

From Apr 1, these 10 big income tax rule changes to be effective. Details
1 year, 9 months ago

From Apr 1, these 10 big income tax rule changes to be effective. Details

Hindustan Times  

The new financial year 2023-24 will begin on April 1 and the announcements made by Union finance minister Nirmala Sitharaman in the annual Feb 1 Union budget will come into effect as soon as FY23 kicks in. Representational Image Here are, therefore, the 10 major income tax rule changes effective from April 1: Default tax regime: As announced by the …

New tax regime, rules to roll out from Apr 1. Here’s what taxpayers need to know
1 year, 9 months ago

New tax regime, rules to roll out from Apr 1. Here’s what taxpayers need to know

Live Mint  

The tax rates which a taxpayer needs to pay on their income and income from other sources will be changing from April 1st, 2023. The updated income tax slab for the new tax regime will be as follows: - Above ₹15 lakh income, the tax rate would be 30% - Between ₹12 lakh to ₹15 lakh income, the tax rate …

Confused about old and new income tax regime? Here's a dedicated calculator
1 year, 10 months ago

Confused about old and new income tax regime? Here's a dedicated calculator

Hindustan Times  

The Income tax department released a 'tax calculator' in order to help an assessee decide if the new income tax regime announced in the Budget 2023 is good or if the old one is better. Income Tax Dedicated Calculator: The tax calculator is live on the income tax department's portal. A dedicated tax calculator to check Old Tax Regime vis-à-vis …

FM says new tax regime has been made \'very attractive\'
1 year, 10 months ago

FM says new tax regime has been made \'very attractive\'

Deccan Chronicle  

NEW DELHI: Finance minister Nirmala Sitharaman on Friday said that the government chose the capital expenditure route to revive the economy as it has a great multiplier effect. She also said the new tax regime has been made “very attractive”, emphasising on moderation in personal taxes for the middle classes in the country. “In the new tax regime, offering a …

Annual income above Rs 10 lakh? Find out which income tax regime suits you better
1 year, 11 months ago

Annual income above Rs 10 lakh? Find out which income tax regime suits you better

India Today  

The Union Budget 2023 came up with a big boost for taxpayers. The following proposals have been made for the new tax regime to reduce the burden on taxpayers: Rebate under Section 87A can be claimed by people with annual income up to Rs 7 lakh No tax for income up to Rs 3 lakh Highest surcharge rate reduced from …

Budget 2023: What are the changes in new tax regime? Expert explains
1 year, 11 months ago

Budget 2023: What are the changes in new tax regime? Expert explains

Hindustan Times  

Union finance minister Nirmala Sitharaman said the new tax system will be the default, with the old system remaining an option. Presenting the last full budget of the Narendra Modi government before the 2024 Lok Sabha election, Sitharaman raised the income tax rebate cap under the new tax system from ₹5 lakh to ₹7 lakh. Hindustan Times spoke to Abhishek …

New Tax System Less Complicated…Every Indian Should Make A Choice: FM to News18
1 year, 11 months ago

New Tax System Less Complicated…Every Indian Should Make A Choice: FM to News18

News 18  

Terming the new tax system “better" and “least complicated", Union Finance Minister Nirmala Sitharaman, speaking exclusively to Rahul Joshi, Group Editor-in-Chief, Network18, two days after she presented Budget 2023-24 in Parliament on February 1, said the government has not set a timeframe for the new regime. I believe at least 50% people will shift": FM #NirmalaSitharaman on New Tax Regime …

Rebate Rate Hike, Slab Changes Applicable Only In New Tax Regime: Know The Difference
1 year, 11 months ago

Rebate Rate Hike, Slab Changes Applicable Only In New Tax Regime: Know The Difference

Live Law  

In her Budget 2023-24 speech, Union Finance Minister Nirmala Sitharaman has announced that the increase in the income tax rebate limit from Rs. Slab Rates Under New Tax Regime The new tax rates are : 0-3L: nil 3-6L: 5% 6-9L: 10% 9-12L: 15% 12-15L: 20% above 15L: 30% Slab Rates Under Old Tax Regime Up to 2,50,000: Nil 2,50,001 – …

New tax regime ‘sweetened’ to benefit maximum number of taxpayers: CBDT Chairman
1 year, 11 months ago

New tax regime ‘sweetened’ to benefit maximum number of taxpayers: CBDT Chairman

The Hindu  

The new income tax regime for filing returns has been "sweetened" in the Budget 2023-24 and it will be beneficial for maximum number of taxpayers as they can enjoy a "reduced" tax rate, CBDT Chairman Nitin Gupta said. Speaking to PTI during a post-Budget interview, Gupta said the intent of the government while announcing the new slabs and rates under …

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