How much money you can save? This new e-calculator will answer all questions on new vs old income tax regime
5 years, 1 month ago

How much money you can save? This new e-calculator will answer all questions on new vs old income tax regime

India TV News  

How much money you can save? This new e-calculator will answer all questions on new vs old income tax regime The Income Tax department has launched an e-calculator to answer all your queries on the new vs old tax regime. E-calculator to calculate tax as per age groups Taxpayers in three age categories of normal citizen, senior citizen and super senior citizen can punch in their estimated annual income, total eligible deductions and exemptions to see what will be their total taxable income if they continue in the old regime or opt for the new one which will not allow any deductions and exemptions. In the new personal income tax regime as proposed by Union Finance Minister Nirmala Sitharaman in her budget speech on February 1, five per cent tax is levied on an annual income between Rs 2.5 lakh to Rs 5 lakh. The old or the existing income tax rate regime allows a standard deduction of Rs 50,000 and investment of Rs 1.5 lakh in saving schemes with a rate of 5 per cent, 10 per cent or 30 per cent tax depending on various income levels.

Income Tax Pti Old Cent User Regime Calculator  old  save  regime  user  lakh  income  tax  answer  vs  questions  cent  money  ecalculator  calculator  department  rs

History of this topic

Old vs new tax regime: Which one should you opt for in 2025-26?
1 week, 1 day ago

Old vs new tax regime: Which one should you opt for in 2025-26?

India Today  

As the new financial year approaches, taxpayers need to make a choice between the old and new tax regimes. Unlike the old regime, the new regime provides limited deductions but offers concessional tax slabs. Choosing between the new and old tax regimes requires careful consideration of income, deductions, and financial goals.” “While the new tax regime offers lower tax rates …

Income Tax Calculator: Here you can assess which tax regime – old or new – is better for you?
4 weeks ago

Income Tax Calculator: Here you can assess which tax regime – old or new – is better for you?

Live Mint  

ITR filing 2025: Before filing your income tax return, it is vital to compare the tax computation under both the tax regimes i.e., old and new. If you opt for the new tax regime as per Section 115BAC, you are supposed to forgo exemptions and deductions while computing total income. Now you can choose the slug on the extreme left …

Income Tax: You can continue to avail THESE deductions in the new tax regime
1 month, 1 week ago

Income Tax: You can continue to avail THESE deductions in the new tax regime

Live Mint  

With the new tax regime becoming increasingly prevalent and more common, taxpayers stand to lose their eligibility to claim most of the exemption and deductions offered under various provisions such as sections 80C, 80D, 80DD and 80G under the old tax regime. However, in the new tax regime, taxpayers can claim deductions only under a few situations which we have …

New Income Tax Bill: Simpler, lighter and future-ready
1 month, 2 weeks ago

New Income Tax Bill: Simpler, lighter and future-ready

Live Mint  

The long-awaited bill for the new tax code was tabled in Parliament on Thursday. The bill fulfills the finance minister's commitment to provide an income tax law that is straightforward for both taxpayers and tax administrators, aiming to establish tax certainty and reduce litigation. As promised, on the first flush, the new income tax bill is direct in text, replacing …

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered
1 month, 2 weeks ago

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered

Live Mint  

Amid the new Income Tax Bill 2025, we answer several FAQs on tax slabs, the old vs. new regime, the new income tax rules, exemption limits, and more. Individuals earning up to ₹12 lakh annually will not have to pay any income tax under consideringthe new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class …

New income tax regime: Check revised tax rates, slabs, and will you benefit?
1 month, 2 weeks ago

New income tax regime: Check revised tax rates, slabs, and will you benefit?

India Today  

The new income tax regime is set to become the preferred option for the majority of taxpayers in the upcoming financial year, following the proposals in the Union Budget 2025. In fact, salaried individuals with an annual income of Rs 12.75 lakh won't have to pay any tax, given the standard deduction of Rs 75,000 under the new regime. High-income …

New Tax Regime: Should you opt for it over old tax regime? All about income tax slabs, exemptions and more
1 month, 3 weeks ago

New Tax Regime: Should you opt for it over old tax regime? All about income tax slabs, exemptions and more

Live Mint  

In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Deduction under section 80JJAA: This allows eligible businesses to claim a deduction for hiring new employees Standard deduction benefit In 2023, the finance minister announced the new tax regime as …

Old vs New tax regime: Which one should you choose for income above Rs 12.75 lakh?
1 month, 3 weeks ago

Old vs New tax regime: Which one should you choose for income above Rs 12.75 lakh?

India Today  

The Union Budget 2025 introduced some major changes to the new income tax regime, aimed at providing relief to middle-class taxpayers. The new tax regime is ideal for taxpayers who: 1) Have an income of Rs 12 lakh or below, as they qualify for a full rebate under Section 87A. If you do not claim substantial deductions and want a …

Old Tax Regime Vs New Tax Regime: Which One Offers Better Deductions?
1 month, 3 weeks ago

Old Tax Regime Vs New Tax Regime: Which One Offers Better Deductions?

ABP News  

The Union Budget 2025 has revamped the new tax regime, exempting individuals earning up to Rs 12 lakh annually from income tax giving a massive relief to taxpayers. The revised tax structure also introduces a 25 per cent tax slab for incomes between Rs 20 lakh and Rs 24 lakh. Revised Tax Slabs Under The New Regime Income up to …

Old tax regime: Time to let go after Budget 2025 changes?
1 month, 3 weeks ago

Old tax regime: Time to let go after Budget 2025 changes?

India Today  

The Union Budget 2025 introduced major changes to the new income tax regime, making it more attractive for middle-class taxpayers. NEW TAX REGIME vs OLD TAX REGIME In the past, many taxpayers preferred the old tax regime because it allowed them to claim deductions for expenses like house rent, home loan interest, and investments in schemes like the Public Provident …

New income tax slabs: Check how much you'll save with these simple calculations
1 month, 3 weeks ago

New income tax slabs: Check how much you'll save with these simple calculations

India Today  

The Union Budget 2025 has introduced major changes to the new income tax regime, making it more attractive for salaried individuals. He also shared an example to show how the new tax regime changes will impact salaried taxpayers with incomes up to Rs 25 lakh: Kunal Savani, Partner, Cyril Amarchand Mangaldas, shared the new tax rates and slabs will benefit …

Old vs new tax regime: How Budget 2025 alters your tax choices
Top News
1 month, 4 weeks ago

Old vs new tax regime: How Budget 2025 alters your tax choices

Firstpost  

Recognising the significant contributions of the middle class, the Government of India has consistently reduced their tax burden over the years Union Finance Minister Nirmala Sitharaman presented her eighth consecutive budget on February 1, 2025, making her the only finance minister in Indian history to achieve this milestone. As a strong commitment towards the middle class, the government has proposed …

Middle class jackpot! Who saves the most under the new tax regime?
1 month, 4 weeks ago

Middle class jackpot! Who saves the most under the new tax regime?

Hindustan Times  

Income Tax Slabs and Rates – FY 2024-25, AY 2025-26: Union finance minister Nirmala Sitharaman, the Budget 2025, announced on Saturday that annual income of up to ₹12 lakh will be exempt from Income Tax under the new regime. “The revamped tax slabs under the new tax regime as introduced by the Finance Bill 2025, aim to provide significant relief …

Should you choose new tax regime over old? All your questions on income tax answered
1 month, 4 weeks ago

Should you choose new tax regime over old? All your questions on income tax answered

Firstpost  

Are you left scratching your head about the changes in tax slabs in the new regime announced in Union Budget 2025? In the Rs 4 lakh - to Rs 8 lakh bracket, five per cent income tax will be applied. A tax payer in the new regime with an income of Rs 12 lakh will get a benefit of Rs …

Should you choose new tax regime over old? All your questions on income tax answered
1 month, 4 weeks ago

Should you choose new tax regime over old? All your questions on income tax answered

Firstpost  

Are you left scratching your head about the changes in tax slabs in the new regime announced in Union Budget 2025? In the Rs 4 lakh - to Rs 8 lakh bracket, five per cent income tax will be applied. A tax payer in the new regime with an income of Rs 12 lakh will get a benefit of Rs …

Income tax calculator: Find out how much tax you need to pay under the new tax regime
1 month, 4 weeks ago

Income tax calculator: Find out how much tax you need to pay under the new tax regime

Live Mint  

Income Tax Calculator: During Budget 2025, Union Finance Minister Nirmala Sitharaman announced new tax rates, offering relief to the salaried taxpayers. Second: To compare income between two regimes, you need to choose the first calculator i.e., Tax Calculator: Old vs New Regime. This is how the webpage appears when you click Income Tax calculator on Income Tax website Fourth: After …

New income tax slabs: How much will you the taxpayer save, end up paying, explained
1 month, 4 weeks ago

New income tax slabs: How much will you the taxpayer save, end up paying, explained

Live Mint  

Budget 2025 brought unexpected cheer to a large section of middle-class taxpayers who may opt to file their returns under the new tax regime. The sharp reduction in tax liability was made possible by a rejig of tax slabs under the new tax regime, the introduction of a new slab and enhanced rebates. Old tax regime turns unattractive What is …

What are the new income tax slabs introduced in Union Budget 2025? How much will you save now?
1 month, 4 weeks ago

What are the new income tax slabs introduced in Union Budget 2025? How much will you save now?

Firstpost  

In Budget 2025, Finance Minister Nirmala Sitharaman has announced changes to the income tax slabs in the new regime. No tax on income up to Rs 12 lakh While delivering her Budget speech, which was 74 minutes in duration, Finance Minister Nirmala Sitharaman announced that the government will raise the tax rebate limit in the new regime from Rs 7 …

Still Calculating Your Tax Under New Slabs? Three Questions About New Tax Regime Answered
1 month, 4 weeks ago

Still Calculating Your Tax Under New Slabs? Three Questions About New Tax Regime Answered

ABP News  

In her 8th consecutive Budget speech, Finance Minister Nirmala Sitharaman introduced significant changes to the Income Tax slabs, especially benefiting salaried individuals. Question 1: Do I have to pay tax if my income is Rs 12 lakh and one rupee, and I am part of the new tax regime? The new revised tax slabs are as follows: 0-4 lakh rupees …

Budget 2025: New tax regime vs. old tax regime – which one should you now opt for?
1 month, 4 weeks ago

Budget 2025: New tax regime vs. old tax regime – which one should you now opt for?

Live Mint  

Union Budget 2025: With income tax slabs becoming more attractive, it is quite tempting for the taxpayers now to choose a new tax regime over the old tax regime. Sample this: If your income is ₹12.75 lakh, income tax in the new tax regime is 0 whereas in the old regime tax would be ₹1.8 lakh. When income is ₹15.75 …

Revised Income Tax Slabs: How much money will you save in the new regime post Budget 2025? Here’s the math
1 month, 4 weeks ago

Revised Income Tax Slabs: How much money will you save in the new regime post Budget 2025? Here’s the math

Live Mint  

Budget 2025 Income Tax Changes: Finance Minister Nirmala Sitharaman proposed sweeping tax reforms for the middle class in the Budget 2025. From zero tax on income of up to ₹12 lakh to cutting the income tax rates proposed in the new tax regime, Budget 2025 came as a much needed relief for the taxpayers. Budget 2025: Proposed income tax rates …

Revised income tax slabs: How much do you save? Calculation of benefits
1 month, 4 weeks ago

Revised income tax slabs: How much do you save? Calculation of benefits

Hindustan Times  

Revised Income tax slabs: Union finance minister Nirmala Sitharaman on Saturday announced that annual income up to ₹12 lakh will no longer attract any tax. Revised Income tax slabs: Under the new tax regime, a nil tax slab will apply to annual incomes up to ₹ 12 lakh. Following are revised slabs and rates under new tax regime announced in …

What Changes For You With New Income Tax Slabs? Check The Revised Rates In Budget 2025
1 month, 4 weeks ago

What Changes For You With New Income Tax Slabs? Check The Revised Rates In Budget 2025

ABP News  

Finance Minister Nirmala Sitharaman presented her eighth consecutive budget on Saturday and announced some massive changes for the upcoming fiscal year. Proposed Changes In New Income Tax Regime Total Income Tax Rate 0-4 Lakh Nil 4-8 Lakh 5% 8-12 Lakh 10% 12-16 Lakh 15% 16-20 Lakh 20% 20-24 Lakh 25% Above 24 Lakh 30% No Tax On Income Up To …

NO income tax till ₹12 lakh: A look at the new tax slabs vs. current tax slabs
1 month, 4 weeks ago

NO income tax till ₹12 lakh: A look at the new tax slabs vs. current tax slabs

Live Mint  

Union Finance Minister Nirmala Sitharaman delivered her eight consecutive Union Budget at 11 am on Saturday, February 1, 2025. Revised income tax slabs under the new tax regime New tax slab New tax rates Old tax slab Old tax rate 0-4 lakh Nil 0-3 lakh rupees Nil 4-8 lakh 5 per cent 3-7 lakh rupees 5 per cent 8-12 lakh …

Union Budget 2025 Updates: Modi’s middle-class outreach makes income up to Rs 12.75 lakh tax-free
1 month, 4 weeks ago

Union Budget 2025 Updates: Modi’s middle-class outreach makes income up to Rs 12.75 lakh tax-free

Firstpost  

The overall benefit for each income class under the new tax regime compared to the old one can be derived by summing up the benefit of rate/slab and the rebate benefit. For income classes up to Rs 12 lakh, the overall benefit is substantial due to the combined effect of lower tax rates and significant rebates. For instance, individuals earning …

Budget 2025: 5 big tax changes every taxpayer is hoping for
2 months ago

Budget 2025: 5 big tax changes every taxpayer is hoping for

India Today  

Taxpayers, especially the salaried class, are anticipating several tax changes in the upcoming budget, which would help in easing their financial burden to some extent. Aakash Uppal, Partner & Leader, Corporate Tax, Tax and Regulatory Services, BDO India mentioned that individuals with annual earnings up to Rs 7 lakh are exempt from paying taxes under the new tax regime. “The …

Income tax calculator: Find out which tax regime suits you better — New or Old
2 months ago

Income tax calculator: Find out which tax regime suits you better — New or Old

Live Mint  

Income tax calculator: The new tax regime became a default tax regime in FY 2023, which means taxpayers are meant to pay income tax based on the new regime unless they opt out of it. Tax exemptions There are a range of income tax exemptions which are available only in the old tax regime and not in the new tax …

Budget 2025: How is the new income tax slab different from old version?
2 months, 1 week ago

Budget 2025: How is the new income tax slab different from old version?

Hindustan Times  

Finance minister Nirmala Sitharaman will present the Union Budget on February 1. Last year, Sitharaman in her budget speech proposed a new tax structure under the new income tax regime. Here is the new income tax structure announced by the Finance minister:- ANNUAL INCOME TAX 0- ₹ 3 LAKH NIL ₹ 3-7 LAKH 5% of amount exceeding ₹ 3,00,000 ₹ …

Income tax slab for AY 2025-26: Which is better, the old tax regime or the new tax regime?
2 months, 3 weeks 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 …

ITR filing: 5 new tax regime features every taxpayer must know
2 months, 3 weeks 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 …

Income tax slab: 5 things in the new tax regime every taxpayer must know before filing ITR 2025
2 months, 3 weeks ago

Income tax slab: 5 things in the new tax regime every taxpayer must know before filing ITR 2025

Live Mint  

Income tax slab: In Budget 2024, Finance Minister Sitharaman introduced key changes to the income tax slabs under the new tax regime to make them more attractive for taxpayers. Five things in the new tax regime that taxpayers must know for filing ITR in 2025 1) Income tax slab rates The income tax slabs have been revamped under the new …

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

Old Tax Regime Vs New Tax Regime: Should You Consider Moving To New One Now?
8 months ago

Old Tax Regime Vs New Tax Regime: Should You Consider Moving To New One Now?

ABP News  

Old Tax Regime Vs New Tax Regime: Finance Minister Nirmala Sitharaman made significant adjustments to lower tax rates under the new tax regime in the Union Budget 2024 on Tuesday, signalling an expected transition from the old tax regime. New Income Tax Regime Slabs Up to Rs 3 lakh, the tax is NIL From Rs 3 lakh to Rs 7 …

Union Budget 2024: How Much Tax Will The Common Man Save Under The New Tax Slabs?
8 months ago

Union Budget 2024: How Much Tax Will The Common Man Save Under The New Tax Slabs?

ABP News  

Finance Minister Nirmala Sitharaman on Tuesday unveiled revised tax slabs for the new tax regime as part of Budget 2024. Tax Percentage Revised New Tax Regime New Tax Regime Nil 0-3 Lakh 0-3 Lakh 5 per cent 3-7 Lakh 3-6 Lakh 10 per cent 7-10 Lakh 6-9 Lakh 15 per cent 10-12 Lakh 9-12 Lakh 20 per cent 12-15 Lakh …

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

Union Budget 2024: Should you pick new tax regime? How can you save Rs 17,500 in income tax every year?
8 months, 1 week 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 …

Calculation: Will you pay more income tax or less after Budget 2024 changes?
8 months, 1 week 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 …

FM Says Salaried Employees Under New Tax Regime To Save Rs 17,500 Annually, Here's How
8 months, 1 week 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 …

New tax regime slabs revised, standard deduction hiked to Rs 75,000. Details here
8 months, 1 week 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: This change to old income tax regime can provide relief to millions
8 months, 1 week 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 …

Old Vs New Tax Regime: How Often Can You Make The Change? EXPLAINED
11 months, 4 weeks ago

Old Vs New Tax Regime: How Often Can You Make The Change? EXPLAINED

ABP News  

As the new 2024-25 financial year starts today, taxpayers should take note that now their income will be taxed under the new tax regime as default. For instance, if a taxpayer with business income opts for the new tax regime in FY2023 once, they cannot go back to the old system again. Old vs New Tax Regime The old tax …

Major Income Tax Reforms Effective From April 1: What You Need To Know
1 year 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: Old vs new tax regime, which is better for salaried employees?
1 year, 1 month 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 …

Confused about old and new income tax regime? Here's a dedicated calculator
2 years, 1 month 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 …

Everything To Know About the New Income Tax Regime 2023
2 years, 1 month ago

Everything To Know About the New Income Tax Regime 2023

Hindustan Times  

The new income tax regime 2023 is upon us and taxpayers need to be prepared for the changes ahead. This blog will cover everything you need to know about the new income tax regime, from understanding the different tax brackets to using an income tax calculator to ensure you’re paying the right amount. Using an Income Tax Calculator In order …

Budget 2023: What are the changes in new tax regime? Expert explains
2 years, 1 month 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 …

Income tax clarity day after Budget 2023: Which scheme works best for you
2 years, 1 month ago

Income tax clarity day after Budget 2023: Which scheme works best for you

India Today  

As the dust settles a day after Union Budget 2023, it becomes easier to decide if one should opt for the new or the old income tax regime. One thing that is clear is that in the new income tax scheme, a person with an annual income of up to Rs 7.5 lakh can get away without paying any tax. …

What Budget document tells us about new Income Tax slab
2 years, 1 month ago

What Budget document tells us about new Income Tax slab

Hindustan Times  

Finance minister Nirmala Sitharaman on Wednesday made as many as five announcements related to personal income tax, as she presented Union Budget for the financial year 2023-24. Changes have been made only to the new tax regime, while the old one has been left untouched One of the announcements made by Sitharaman on personal income tax – there was none …

Budget 2023: Old income tax slab vs new income tax slab
2 years, 1 month ago

Budget 2023: Old income tax slab vs new income tax slab

India Today  

The income tax rebate is the one aspect of the budget that the salaried class looks forward to. Currently, a 5 per cent tax is levied on total income between ₹2.5 lakh and ₹5 lakh, 10 per cent on ₹5 lakh to ₹7.5 lakh, 15 per cent on ₹7.5 lakh to ₹10 lakh, 20 per cent on ₹10 lakh to …

Discover Related