The new tax regime was first introduced in Union Budget 2020-21 by inserting a new section, 115BAC, in the Income Tax Act for ...

A tax rebate is available on income up to Rs 7 lakh under the new tax regime and up to Rs 5 lakh under the old regime ...

The income tax system in India operates through a progressive slab structure. The amount of tax an individual pays is ...

The new tax regime offers lower tax rates and simplifies the tax process. But it does not provide the same range of exemptions and deductions ...

In 2020, the finance minister unveiled the new tax regime, which offered taxpayers the option to pay lower tax but forego ...

India's current tax system for individual taxpayers features two personal tax regimes: the old tax regime and the new tax regime. The new tax regime is the default option, but taxpayers can choose ...

said that scrapping the Old Tax Regime entirely and rationalising income tax slabs under the New Tax Regime is a logical next step. “Today, under the New Tax Regime, income tax has become much ...

What's the difference between the old tax and new tax regime and which one could be more beneficial for you? Pranjal Kamra and Sonal Mehrotra Kapoor explain the key differences between the two tax ...

But a back-of-the-envelope calculation shows that Rs 15 lakh income, coupled with Rs 3.75 lakh deduction, is a break-even point What's the difference between the old tax and new tax regime and ...

Budget 2023-24 tweaked slabs under the new tax regime and also made it the default tax regime. So, if one wants to stay in the old tax regime and take the benefit of various deductions available ...