During the Union Budget 2025 presentation, sweeping changes to the nation’s tax structure were announced. The revised regime ...

Union Budget 2025: In the Union Budget 2025, Finance Minister Nirmala Sitharaman revealed an increase in the basic tax exemption limit in the new tax regime. The limit has been raised from Rs 3 ...

Union Budget 2025: Finance Minister Nirmala Sitharaman ... Alternatively, the 2020 Union Budget introduced the New Tax Regime, featuring reduced tax rates and fewer exemptions and deductions ...

The Old Tax Regime requires tax planning, as taxpayers must invest in specific financial products to claim deductions. In contrast, the New Tax Regime is simpler, as it does not require tracking ...

Budget 2025 prioritised three key areas: reviving consumption amid a notable slowdown, keeping inflation in check through a ...

Despite announcing that no income tax needs to be paid up to an income of Rs 12 lakh under the new regime, the government is still expecting the share of income tax in gross tax collections to ...

Budget 2025 income tax expectations: While it is well known that new income tax regime is simplified tax regime without tax exemptions and deductions but still to make the rest of the 28% filing ...

Make use of the new tax regime benefits. The Budget 2025 raised the income tax exemption limit to ₹1.2 million, giving ...

However, it is important to note that whilst the Union Budget 2025 proposals have altered public perception of the new income tax regime, claims about the old regime's demise are premature.

Now, with a Rs 12 lakh tax-free income limit, Rs 75,000 standard deduction and a 14% NPS contribution deduction, those earning up to Rs 13.7 will effectively have zero tax liability.

Standard Deduction is a fixed amount that can be subtracted from the taxpayers' total income to bring down the amount of ...

Old Tax Regime vs New Tax Regime: Take-home salary As per the BankBazaar's calculations, a taxpayer with taxable income of Rs 15 lakh, will pay Rs 1.09 lakh as tax under New Tax Regime 2025 as ...