Tax season is underway, and the IRS expects 140 million people will file returns by April 15. The agency also debuted a new online tool to help taxpayers check the status of any refund they may be ...

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 ...

This limit will be Rs 12.75 lakh for salaried taxpayers, due to a standard deduction of Rs 75,000. The jump in income tax exemption limit, under the new tax regime, from a salary of Rs 7 lakh per ...

Expectations from Budget 2025 were high and Finance Minister Nirmala Sitharaman did not disappoint taxpayers. “Slabs and rates are being changed across the board to benefit all tax-payers.

Finance Minister Nirmala Sitharaman announced an increase in the basic income tax exemption limit from Rs 3 lakh to Rs 4 lakh under the new tax regime. This change will reduce tax liabilities for ...

Prime Minister Narendra Modi’s statement on seeking Goddess Lakshmi’s blessings for the poor and the middle class has triggered hopes of Budget 2025 reducing individual taxpayers’ income tax ...

Union finance minister Nirmala Sitharaman on Saturday provided much-needed relief to the middle class by raising the tax rebate limit in the new regime from Rs 7 lakh to Rs 12 lakh. This ...

So, accordingly the proposed tax slabs under the new tax regime for the FY 2025-26 or AY 2026-27 2. Time limit to file an updated income tax return increased from 2 years to 4 years: Now instead of 2 ...

Vijayawada:The enhancement in the income tax limit from Rs 7 lakh to Rs 12 lakh on Saturday has been widely hailed, mainly by the salaried class. As the government noted in the budget presentation ...

But the Budget speech, which also announced revised tax slabs, has left many confused over the relief they will be getting. The tax slabs under the new regime have been revised in Budget 2025.

Further, threshold amounts for tax deduction will be increased for better clarity and uniformity. The limit for tax deduction on interest for senior citizens is being doubled from the present Rs ...

Budget 2025: Finance Minister Nirmala Sitharaman, in her Budget speech today (February 1), announced about doubling limit for tax deduction for senior citizens. "Limit for tax deduction on ...