Still Calculating Your Tax Under New Slabs? Three Questions About New Tax Regime Answered
1 month, 3 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 Nil 4-8 lakh rupees 5 per cent 8-12 lakh rupees 10 per cent 12-16 lakh rupees 15 per cent 16-20 lakh rupees 20 per cent 20- 24 lakh rupees 25 per cent Above 24 lakh rupees 30 per cent If you earn Rs 12,00,001, your income will be taxed in the following manner: - 5% on Rs 4,00,001 to Rs 8,00,000 - 10% on Rs 8,00,001 to Rs 12,00,000 - 15% on Rs 12,00,001 This would result in a tax liability of Rs 71,500. There's one more scenario to be considered for the above example that Finance Minister Sitharaman also mentioned in her Budget 2025 speech: "Marginal relief as provided earlier under the new tax regime is also applicable for income marginally higher than Rs 12,00,000." Tax Slab FY 2024-25 Tax Rate Up to Rs 3 lakh NIL Rs 3 lakh - Rs 7 lakh 5% Rs 7 lakh - Rs 10 lakh 10% Rs 10 lakh - Rs 12 lakh 15% Rs 12 lakh - Rs 15 lakh 20% Above Rs 15 lakh 30% The changes in the new tax regime will allow more people, especially those in the Rs 15 lakh-plus income group, to benefit from reduced rates and more tax-saving opportunities.

Budget Income Cent Regime Sitharaman Your Tax Rs 15 Lakh Tax Slabs Rs 12 Lakh Your Tax Liability Lakh 15 Rupees 20  lakh  15  rupees  20  regime  income  rs  answered  calculating  liability  questions  cent  tax  slabs

History of this topic

Old vs new tax regime: Which one should you opt for in 2025-26?
1 day, 22 hours 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 …

Old vs new income tax regime: What to choose if you earn Rs 50 lakh per year
3 days ago

Old vs new income tax regime: What to choose if you earn Rs 50 lakh per year

India Today  

When it comes to paying taxes, picking the right tax regime can help you save money. COMPARISON OF OLD AND NEW TAX REGIMES Under the old tax regime, taxpayers can claim various deductions to lower their taxable income. Contrastingly, if Mr X opts for the new tax regime, which does not allow the above-mentioned deductions, the entire Rs 50 lakh …

Earning up to Rs 12.75 lakh? Why you should opt for new income tax regime
1 month ago

Earning up to Rs 12.75 lakh? Why you should opt for new income tax regime

India Today  

Perhaps, the biggest Budget 2025 announcement by the Finance Minister Nirmala Sitharaman was that individuals with salaries up to Rs 12 lakh will pay zero taxes under the new tax regime. However, with Rs 75,000 as the standard deduction under the new regime, individuals earning up Rs 12.75 lakh annually need not pay any taxes. The Finance Minister in her …

New income tax bill: Why was there a need for a new legislation?
1 month, 1 week ago

New income tax bill: Why was there a need for a new legislation?

Live Mint  

The Income-Tax Bill 2025 was introduced in Lok Sabha on 13 February to replace the existing Act. Mint explains why the Income Tax Act needed an overhaul and why the amended bill is unlikely to upset taxpayers. Two attempts were made in the past to rewrite the tax law—in 2009 after a committee presented a draft direct taxes code together …

Shashi Tharoor’s hilarious Coldplay jibe at Sitharaman’s income tax cuts: ‘Coldplay says fix you, FM says tax you’
1 month, 1 week ago

Shashi Tharoor’s hilarious Coldplay jibe at Sitharaman’s income tax cuts: ‘Coldplay says fix you, FM says tax you’

Live Mint  

Congress leader Shashi Tharoor took a witty dig at Finance Minister Nirmala Sitharaman’s Union Budget 2025, using a Coldplay-inspired metaphor. Known for his sharp humour, Tharoor critiqued the budget in an Instagram reel, saying, “Coldplay says ‘Fix You,’ but the Finance Minister says ‘Tax You.’” Tharoor quipped, “Even Chris Martin wouldn’t be able to find paradise in these numbers. But …

New Income Tax Bill 2025: Concept Of "Tax Year" To Be Introduced Instead Of "Assessment Year", "Financial Year" To Remain Unchanged
1 month, 1 week ago

New Income Tax Bill 2025: Concept Of "Tax Year" To Be Introduced Instead Of "Assessment Year", "Financial Year" To Remain Unchanged

Live Law  

The new Income Tax bill is set to introduce the concept of 'Tax Year'. For the purposes of this Act, “tax year” means the twelve months period of the financial year commencing on the 1st April. Amortisation of certain preliminary expenses: As per the existing Income Tax Act, 1961, Section 35D states that where an assessee, being an Indian company …

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

BJP wins Delhi polls, Tax bonanza for middle class in Union Budget, RBI cuts repo rate, and more: The week in 5 charts
1 month, 1 week ago

BJP wins Delhi polls, Tax bonanza for middle class in Union Budget, RBI cuts repo rate, and more: The week in 5 charts

The Hindu  

BJP returns to power in Delhi after 26 years The BJP on Saturday returned to power in Delhi after more than 26 years to sweep away the Arvind Kejriwal-led Aam Aadmi Party with a two-thirds majority on the back of a hyper localised campaign. Union Budget: No income tax up to ₹12 lakh, tax slabs revised Finance Minister Nirmala Sitharaman …

New income tax regime: Check revised tax rates, slabs, and will you benefit?
1 month, 1 week 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 …

Income Tax Bill to make rules simpler, easy to read
1 month, 2 weeks ago

Income Tax Bill to make rules simpler, easy to read

New Indian Express  

NEW DELHI: The Income Tax Bill, approved by the Cabinet on Friday, will not have any rate surprises. The bill is a major exercise in making the income tax rules simpler and easily comprehensible. What we are saying is that a law which has been amended more than 4,000 times, and has a lot of redundant provisions, can have a …

New Tax Regime: Should you opt for it over old tax regime? All about income tax slabs, exemptions and more
1 month, 2 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, 2 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, 2 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 …

When Will The New Income Tax Rates Come Into Effect?
1 month, 2 weeks ago

When Will The New Income Tax Rates Come Into Effect?

ABP News  

Finance Minister Nirmala Sitharaman announced a major income tax relief in her Budget 2025 speech on Saturday, stating that no tax will be payable on annual incomes up to Rs 12 lakh under the New Tax Regime. With the standard deduction of Rs 75,000, this effectively raises the tax-free income threshold to Rs 12.75 lakh for salaried individuals. Revised Tax …

All income groups got a little something from the Budget
Trending News
1 month, 2 weeks ago

All income groups got a little something from the Budget

Live Mint  

The Union Budget 2025 aimed to put more money in the hands of every income group—whether salaried professionals, gig workers, rental income earners, or senior citizens—by tweaking tax slabs, deductions, and exemptions. The Bill proposes that persons opting for the new personal tax regime in financial year 2025-26, and having income upto ₹12 lakh, will not be required to pay …

Old tax regime: Time to let go after Budget 2025 changes?
1 month, 2 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 …

Explained: If Income Up To Rs 12 Lakh Is Tax-Free, Why The 10 Per Cent Slab?
1 month, 2 weeks ago

Explained: If Income Up To Rs 12 Lakh Is Tax-Free, Why The 10 Per Cent Slab?

ABP News  

Finance Minister Nirmala Sitharaman has introduced several tax changes to benefit the middle class. This is why the 10 per cent tax slab remains relevant for taxpayers whose incomes exceed Rs 12 lakh. Here are the new tax slab rates: News Tax slabs Tax Rate 0-4 lakh rupees Nil 4-8 lakh rupees 5 per cent 8-12 lakh rupees 10 per …

Income up to Rs 12 lakh is tax-free, but do you know the tax-exemption limit? Find out
Trending News
1 month, 3 weeks ago

Income up to Rs 12 lakh is tax-free, but do you know the tax-exemption limit? Find out

India TV News  

Tax-free vs tax exemption: In a major relief to middle-class salaried people, Finance Minister Nirmala Sitharaman hiked the tax rebate available to individual taxpayers. In her Budget speech, the finance minister said that individuals earning up to Rs 12 lakh will pay zero tax. "One crore more people will pay no income tax due to hike in rebate to Rs …

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 …

Earn over Rs 12.75 lakh? You can still pay zero tax under new regime
1 month, 3 weeks ago

Earn over Rs 12.75 lakh? You can still pay zero tax under new regime

India Today  

The new income tax regime got a major revamp in the Union Budget 2025, aimed at benefiting middle-class taxpayers. And with a standard deduction of Rs 75,000, salaried taxpayers earning up to Rs 12.75 lakh annually do not need to pay any tax. For an annual income of Rs 13.5 lakh, assuming a 50% basic salary of Rs 6.75 lakh, …

‘Taxpayers build nation they’ll drive demand,’ says FM Nirmala Sitharaman
1 month, 3 weeks ago

‘Taxpayers build nation they’ll drive demand,’ says FM Nirmala Sitharaman

Hindustan Times  

The Prime Minister Narendra Modi-led government has sought to respect the taxpayer instead of following a rent-seeking approach, finance minister Nirmala Sitharaman said on Sunday, emphasising that the huge tax relief announced in Saturday’s Union Budget was an acknowledgement of the contribution of citizens who pay their fair share towards nation-building, or, as she repeatedly stressed, a manifestation of “respect”. …

Days of intrusive tax scrutiny over, taxpayer facilitation is the new mantra: CBDT chief Ravi Agarwal
1 month, 3 weeks ago

Days of intrusive tax scrutiny over, taxpayer facilitation is the new mantra: CBDT chief Ravi Agarwal

Live Mint  

The days of intrusive tax scrutiny and compliance enforcement are over and tax administration will be based purely on trust and greater reliance on data mining, Central Board of Direct Taxes chairperson Ravi Agrawal said in a post budget interview to Mint. Agarwal said that under the revamped new personal income tax regime, those with ₹24 lakh annual income will …

Tax Reforms In Budget 2025 Should Help Bring In Majority Of Taxpayers To New Income Tax Regime, Says CBDT Chairman
1 month, 3 weeks ago

Tax Reforms In Budget 2025 Should Help Bring In Majority Of Taxpayers To New Income Tax Regime, Says CBDT Chairman

ABP News  

CBDT Chairman, Ravi Agrawal, on Sunday said that revisions in the tax slabs should bring nearly all the individual taxpayers to the new income tax regime. Speaking in an interview with PTI, the Central Board of Direct Taxes executive said that the Budget 2025’s announcement of no tax on earnings up to Rs 12 lakh per annum should help the …

Budget 2025: Earning above ₹12 lakh? Here’s how your tax could spike—or stay in check
1 month, 3 weeks ago

Budget 2025: Earning above ₹12 lakh? Here’s how your tax could spike—or stay in check

Live Mint  

Imagine getting a salary bump, only to find that your tax bill eats up most—if not all—of your raise. Thankfully, marginal relief has your back, ensuring that small increases in income don’t result in a huge spike in tax outgo. View Full Image Marginal relief ensures that the maximum tax outgo on income that marginally exceeds ₹ 12 lakh is …

PM Modi Was Always In Support Of Slashing Tax Slabs, Says FM Nirmala Sitharaman
1 month, 3 weeks ago

PM Modi Was Always In Support Of Slashing Tax Slabs, Says FM Nirmala Sitharaman

ABP News  

Finance Minister Nirmala Sitharaman described the Union Budget as by the people, for the people, of the people, and said that the Prime Minister was in full support of slashing taxes. In an interview with PTI, the minister said it didn’t take much convincing for the PM to approve the changes in the tax slabs. EXCLUSIVE | VIDEO: Speaking to …

No income tax up to Rs 12 lakh: What it means if you earn more
1 month, 3 weeks ago

No income tax up to Rs 12 lakh: What it means if you earn more

Firstpost  

In a major relief for the middle class, Finance Minister Nirmala Sitharaman announced that individuals earning up to Rs 12 lakh will no longer have to pay income tax. FM Sitharaman increased the exemption threshold from Rs 7 lakh to Rs 12 lakh in the new income tax regime. Pixabay/Representational Image Union Finance Minister Nirmala Sitharaman has delivered a massive …

’PM Modi was very clear...’: What FM Nirmala Sitharaman said on income tax relief up to ₹12 lakh
Top News
1 month, 3 weeks ago

’PM Modi was very clear...’: What FM Nirmala Sitharaman said on income tax relief up to ₹12 lakh

Live Mint  

Nirmala Sitharaman announced a major overhaul of the income tax system while outlining the Budget on Saturday. Individuals earning up to ₹12 lakh annually will no longer have to pay any tax under the new income tax regime — with benefit of ₹80,000. Sitharaman announced on Saturday that there would be “no income tax payable up to income of ₹12 …

Tax axe budget prods people to spend more
1 month, 3 weeks ago

Tax axe budget prods people to spend more

New Indian Express  

NEW DELHI: a country is not just its soil, a country is its people—a famous line of Telugu poet and playwright Gurajada Appa Rao quoted by Finance Minister Nirmala Sitharaman in her speech—sums up the focus of Budget 2025-26. The middle class was the central focus of the Budget, which heralded a big income tax cut the demand for which …

Economy to get fillip with tax cut
1 month, 3 weeks ago

Economy to get fillip with tax cut

New Indian Express  

For a middle-class that is struggling with tight cash flows and higher taxes, the finance minister has come with a bunch of measures that put more money into their pockets. The introduction of enhanced slabs, lower tax rates, higher threshold for TDS and TCS transaction and measures to cut complexity around KYC compliance are set to bring considerable cheer to …

Fresh slabs may prompt over 90% taxpayers to choose new regime: Tax body chief
1 month, 3 weeks ago

Fresh slabs may prompt over 90% taxpayers to choose new regime: Tax body chief

India Today  

The Central Board of Direct Taxes Chairman Ravi Agrawal said that over 90 per cent of individual taxpayers are expected to adopt the new tax regime, up from the current 75 per cent, after Finance Minister Nirmala Sitharaman announced zero tax for earnings of up to Rs 12 lakh per annum in her Union Budget 2025 speech. Sitharaman, on Saturday, …

PM quickly got behind tax cut, bureaucrats took convincing: Finance Minister
1 month, 3 weeks ago

PM quickly got behind tax cut, bureaucrats took convincing: Finance Minister

India Today  

Union Finance Minister Nirmala Sitharaman on Sunday said Prime Minister Narendra Modi was clear about the need for tax relief in the Union Budget and supported the income tax rebate, adding that it took time to convince the bureaucrats. VIDEO | Full Interview: "PM Modi was very clear, it was tough to convince board and ministry," Finance Minister Nirmala Sitharaman …

Budget 2025: Was this a death knell for the old tax regime?
1 month, 3 weeks ago

Budget 2025: Was this a death knell for the old tax regime?

Live Mint  

Budget 2025: Union Finance Minister Nirmala Sitharaman announced the revision of tax slabs for taxpayers under the new tax regime. The tax slab rates under the old tax regime are as follows: Slab Tax 0-2.5 lakh NIL 2.5 to 5 lakh 5% 5 lakh to 10 lakh 20% Above 10 lakh 30% Now imagine someone who earns ₹12 lakh is …

Goodbye old tax regime; new regime now more attractive
1 month, 3 weeks ago

Goodbye old tax regime; new regime now more attractive

Live Mint  

The budget’s biggest, shiniest takeaway: no tax on income up to ₹12 lakh. First, zero tax up to ₹12 lakh as well as the attractive new tax slabs are only applicable to the new tax regime. For instance, even if your income is above the ₹12 lakh or ₹12.75 lakh rebate limit, you still have the ongoing provision of claiming …

Bracketed joy for Hyderabad professionals over tax slabs
1 month, 3 weeks ago

Bracketed joy for Hyderabad professionals over tax slabs

The Hindu  

Hyderabad-based Ankit Priya and Bansari Trivedi, who will be tying the knot mid-2025, have more reasons to celebrate. Higher investments and savings are the norm for most Hyderabad citizens, as Ms. Sitharaman announced I-T exemption for annual income of up to ₹12 lakh and rejig in tax slabs. While professionals earning an annual income of less than ₹12 lakh lauded …

No income tax for annual income upto Rs 12 lakh in New Tax Regime
1 month, 3 weeks ago

No income tax for annual income upto Rs 12 lakh in New Tax Regime

Deccan Chronicle  

Mumbai : At a time when the economy is slowing, the Union Budget 2025-26 on Saturday announced major tax reliefs for the middle class to bolster their spending power thereby invigorating domestic consumption. Finance Minister Nirmala Sitharaman while presenting the Budget announced that under the New Tax Regime, no income tax will be payable for salaried individuals with total income …

Budget 2025 | No tax for incomes up to ₹12 lakh
Top News
1 month, 3 weeks ago

Budget 2025 | No tax for incomes up to ₹12 lakh

The Hindu  

With an objective to boost household consumption and aggregate demand, Finance Minister Nirmala Sitharaman announced on Saturday that incomes up to ₹12 lakh would draw no income tax. To boost consumption, savings and investment Explaining the rationale for the revision in taxation limit, the Minister said the new structure would substantially reduce taxes for the middle class and provide more …

Budget 2025: Tax-free income up to Rs 12 lakh sparks joy, confusion online
1 month, 3 weeks ago

Budget 2025: Tax-free income up to Rs 12 lakh sparks joy, confusion online

Deccan Chronicle  

Tirupati: Finance Minister Nirmala Sitharaman’s announcement of tax exemption on income up to Rs 12 lakh under the new tax regime has sparked widespread celebration on social media, with netizens reacting with a flood of memes. One user likened the announcement to "getting a salary hike without changing jobs," while another shared a meme of a man joyfully throwing cash …

Old vs new tax regime: How Budget 2025 alters your tax choices
Top News
1 month, 3 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 …

Tax Cuts In Budget 2025 Will Help You Save More, But Don’t Forget To Secure The Money
1 month, 3 weeks ago

Tax Cuts In Budget 2025 Will Help You Save More, But Don’t Forget To Secure The Money

ABP News  

Today was a day of celebration for the middle class as Finance Minister Nirmala Sitharaman presented a landmark Union Budget. Based on this data, roughly 85 per cent of taxpayers will pay no tax from next year if they opt for the new tax regime. After the announcement, the new tax rates stand as follows: New Tax slabs Tax Rate …

Income tax payable on same income has come down by over 50% since 2014
1 month, 3 weeks ago

Income tax payable on same income has come down by over 50% since 2014

Op India  

The union budget for 2025-26 makes significant changes to the Income Tax regime, which is going to provide major relief to taxpayers. Moreover, the slabs have been changed, ensuring that there will be lower tax outgo even for those who come under taxable bracket with income above ₹12 lakh. While now there is no tax on income up to ₹12 …

Budget 2025: Income tax gains depend on your investments too. 6 scenarios explained
1 month, 3 weeks ago

Budget 2025: Income tax gains depend on your investments too. 6 scenarios explained

Firstpost  

Acknowledging the contribution of a young demography to the direct tax revenue and coming through on the promise made to the middle class taxpayers to leave more cash in hand, Union Finance Minister Nirmala Sitharaman proposed significant changes in the tax rates and slabs under the new tax regime. Here’s a comparative scenario on how much tax one will have …

Despite hike in exemption limit, income tax receipts to go up by 13 p
1 month, 3 weeks ago

Despite hike in exemption limit, income tax receipts to go up by 13 p

Deccan Chronicle  

Chennai: Despite the Centre's move to increase tax exemption limit to Rs12 lakh annual income and making 30 per cent tax slab payable for those with Rs 24 lakh income, the personal income tax receipts of the government are estimated to go up by 13.4 per cent. Both personal income tax and direct taxes will see their share in revenue …

Income tax slabs revised: Should you switch to new tax regime?
1 month, 3 weeks ago

Income tax slabs revised: Should you switch to new tax regime?

Live Mint  

The government’s latest tax overhaul of income tax slabs in Budget 2025 is aimed at introducing a more streamlined tax system, providing relief to the harried middle-class salaried taxpayer. While the new tax regime offers lower tax rates, it removes many popular deductions, forcing taxpayers to weigh the trade-off between reduced complexity and potential savings. Old vs. New Regime Breakdown …

‘Focus on wealth creation, win for middle class’: How experts see tax cut in Sitharaman’s Budget 2025
1 month, 3 weeks ago

‘Focus on wealth creation, win for middle class’: How experts see tax cut in Sitharaman’s Budget 2025

Firstpost  

After Union Finance Minister Nirmala Sitharaman proposed to make income up to Rs 12 lakh tax-free in the Budget 2025-26, among other measures, experts said it was a pro-growth budget that sought to focus on wealth creation for the middle class with eyes on triggering consumption-led growth A customer looks at consumable goods before buying them at a supermarket in …

Should you choose new tax regime over old? All your questions on income tax answered
1 month, 3 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 …

One crore more people will pay no income tax due to hike in rebate to Rs 12 lakh: FM
1 month, 3 weeks ago

One crore more people will pay no income tax due to hike in rebate to Rs 12 lakh: FM

Firstpost  

The government has put “substantial amount of money” in hands of people through rejig of I-T slabs in the Budget and an additional 1 crore people will pay no tax due to hike in tax rebate to Rs 12 lakh per annum, Finance Minister Nirmala Sitharaman said on Saturday The government has put “substantial amount of money” in hands of …

Union Budget 2025-26: Dimple Yadav questions lack of innovation and calls for justice
1 month, 3 weeks ago

Union Budget 2025-26: Dimple Yadav questions lack of innovation and calls for justice

Hindustan Times  

Samajwadi Party MP Dimple Yadav on Saturday criticised Union Budget presented by Finance Minister Nirmala Sitharaman in Lok Sabha, saying that there was "nothing new" in the Budget. Asserting that there was "nothing new" in the Union Budget, Samajwadi Party MP Dimple Yadav attacked it on Saturday when Finance Minister Nirmala Sitharaman delivered it to the lawmakers. Union Finance Minister …

No tax on income of up to ₹12 lakh | All your questions answered
1 month, 3 weeks ago

No tax on income of up to ₹12 lakh | All your questions answered

Hindustan Times  

Budget 2025: In a major relief to the middle class in India, Union finance minister Nirmala Sitharaman on Saturday announced that no income tax will be payable on income up to ₹12 lakh. "I am now happy to announce that there will be no income tax payable up to income of ₹12 lakh under the new regime," the finance minister …

Budget 2025: Will income tax slab change impact your take-home salary? 5 things employees must know
1 month, 3 weeks ago

Budget 2025: Will income tax slab change impact your take-home salary? 5 things employees must know

India TV News  

Budget 2025: Union Finance Minister Nirmala Sitharaman on Saturday announced during the Budget 2025 that no income tax will be paid on earnings up to Rs 12 lakh, or up to Rs 12.75 lakh including standard deductions, under the new tax regime. This move of the Centre means even if people earning between Rs 8 to 10 lakh end up …

Your Budget 2025 Guide: Income tax slabs, rates, and key benefits. All your queries answered
1 month, 3 weeks ago

Your Budget 2025 Guide: Income tax slabs, rates, and key benefits. All your queries answered

Live Mint  

Your Budget 2025 Guide: Under the new income tax slabs announced by Finance Minister Nirmala Sitaraman, income up to ₹12 lakh will be tax-free. Up to ₹4 lakh - 0 per cent ₹4-8 lakh - 5 per cent ₹8 12 lakh - 10 per cent ₹12-16 lakh - 15 per cent ₹16-20 lakh - 20 per cent ₹20-24 lakh - …

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