Though the new income tax regime will feature revamped tax slabs from April 1, 2025 onwards, the old regime offers a slew of ...
Salaried individuals have two options when filing their Income Tax Return (ITR): the old or the new tax regime. Each has its ...
While the old tax regime promotes savings through tax benefits, the new one is simpler, involves less paperwork and reduces ...
Do you follow the new tax regime or the old tax regime? Will you switch to the proposed new tax regime once it is implemented ...
The new tax regime will have new income tax slabs from FY 2025-26. Many salaried employees hesitated to switch to the new tax ...
Choose the Old Regime if you have significant tax-saving investments (PPF, EPF, LIC, etc.) and claim deductions like HRA, 80C, and 80D. Choose the New Regime if you do not have many deductions and ...
For business and professional taxpayers, switching tax regimes is more restricted. Once they opt for the new tax regime, they ...
Key amendments introduced under the new tax regime for FY 2025-26 (AY 2026-27) 2. No Tax upto 12 lakh Enhanced Tax Rebate (Section 87A): The tax rebate under Section 87A has been enhanced and ...
Unsure whether to opt for the new or old tax regime while filing your ITR? Your decision should be based on factors like ...
One should be aware that taxpayers are not eligible to claim tax deductions for investments made under Section 80C in the New ...
Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.
Though the new income tax regime will feature revamped tax slabs from April 1, 2025 onwards, the old regime offers a slew of deductions and exemptions. The new income tax regime will feature the ...