Before filing your income tax return, it is vital to compare the tax computation under both the tax regimes i.e., old and new ...

Salaried employees must declare their tax regime choice annually, while non-business income earners can switch between the ...

If you are availing exemptions or deductions under the old tax regime, the new tax regime may lead to a higher tax outgo.

Notably, with the amendment to section 115BAC of the Income Tax Act as effective from F.Y. 2023-2024 [A.Y. 2024-2025], the new tax regime is made as a default tax regime for persons other than ...

Vermont and New Hampshire aren’t so similar anymore.

The Government of India has introduced the New Tax Regime to simplify personal income tax. Out of the total 7.28 crore income ...

Latest income tax calculation post Budget 2025: Starting April 1, 2025, individuals earning up to Rs 12 lakh under the new ...

In the budget presented on February 1, 2025, Finance Minister Nirmala Sitharaman directly excluded income up to Rs 12 lakh ...

Leave Encashment (Section 10 (10AA)) states that if you don’t use all your leave days and your company pays you for them, you can claim a tax exemption, but here the maximum tax-free limit is Rs 25 ...

In Budget 2025, Finance Minister Nirmala Sitharaman proposed new tax regime income tax slabs. Once the slabs come into effect ...

With increased financial flexibility comes greater responsibility. Will taxpayers continue to make wise investments even when ...

For taxpayers without business income: Taxpayers without business income can simply select the Old Tax Regime while filing ...