Among the primary expectations of taxpayers are the rationalization of income tax slab rates and an increase in the Section ...

No hike has been announced in the Section 80C deduction limit in Budget 2025. Deduction under Section 80C of the Income Tax Act is available under the old tax regime only. For the upcoming fiscal year ...

The current income tax slabs introduced for FY 2024-25 were designed to alleviate the tax burden on average taxpayers.

Taxpayers are keenly awaiting possible reductions in tax rates and increased exemption limits, amid ongoing high inflation ...

Here are the income tax rates, standard deduction available, basic exemption limit, rebate and deductions under both the new ...

Given the economic slowdown and geopolitical uncertainties, bold reforms are expected from FM Nirmala Sitharaman to simplify ...

Raising the basic exemption limit to ... that the old tax regime provides greater savings. This is particularly true for individuals who claim multiple deductions under Sections 80C, 80D, 24B ...

If your annual taxable income is ₹10 lakh and you claim the full ₹1.5 lakh deduction, your taxable income reduces to ₹8.5 ...