Here’s a step-by-step guide to help you understand and calculate your income tax under both the old and the new regime.

Finance Minister Nirmala Sitharaman’s Budget 2024 modified income tax slabs, favouring the new tax regime. The old regime, ...

Less: Exemptions on Salary income (other than HRA) which are not allowed under New Regime (e.g. Leave travel allowance, Education allowance, Hostel allowance etc.) Less: Exemptions on Salary ...

In both tax systems, Section 112A provides a tax exemption for Long Term Capital Gains (LTCG) of up to Rs 1.25 lakh on ...

Bombay High Court had given an interim relief by ordering the tax department to extend the revised and belated ITR filing ...

The countdown for the union budget has officially begun as we enter the new year. As Finance Minister Nirmala Sitaraman will ...

One should note that there have been no modifications to the income tax rules, slabs, and rates in the Old Tax Regime.

In the Union Budget 2024, the capital gains tax regime for short ... taxpayer's applicable Income Tax slab rate. LTCG will now be taxed at a flat rate of 12.5%. The new provisions for taxation ...

The year 2024 has brought in significant changes to India's personal income tax structure, with multiple reforms announced in ...

It is also the last chance for other individual tax-payers who may have missed filing their returns by July 31, or spotted ...

The government may raise the basic income tax exemption limit for senior citizens to Rs 5 lakh, potentially resulting in zero ...