Income Tax : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...
Income Tax : This guide compares the Old and New Tax Regimes, explaining differences in deductions, exemptions, home loan benefits, and standar...
Income Tax : Old Regime vs New Regime for Salaried Employees in FY 2026-27: A CA’s Optimisation Checklist The article explains that no ch...
Income Tax : Despite withdrawal of many tax benefits under Section 115BAC, official duty-related allowances remain exempt to the extent of actu...
Income Tax : The article explains that HRA exemption is unavailable under the new tax regime, which is why the HRA field may not appear in the ...
Income Tax : The Government confirms a higher rebate under the new tax regime, ensuring no tax up to ₹12 lakh and outlining revised slabs eff...
Income Tax : Union Budget 2025-26 introduces tax relief with no income tax up to Rs. 12 lakh, benefiting middle-class taxpayers and boosting co...
Income Tax : The ITAT Pune held that the option exercised under Section 115BAC continues for subsequent years unless it is withdrawn or becomes...
Income Tax : ITAT held that once Form 10IE is validly exercised and not withdrawn, it continues for later years. AO was directed to grant Secti...
Income Tax : The Tribunal held that a one-day delay in filing Form 10IE for an earlier year cannot defeat the assessee’s right to be taxed un...
Income Tax : Read the full text of the ITAT Pune order in Akshay Devendra Birari Vs DCIT regarding the allowance of benefits under the new inco...
The Income-tax Act 2025 introduces the new tax regime as the default taxation method for individuals and certain entities. Taxpayers may opt out while filing returns if they prefer the traditional regime.
The article analyses whether lower tax rates under Section 115BAC outweigh the loss of deductions, examining legal validity and financial impact on middle-class taxpayers.
The Government confirms a higher rebate under the new tax regime, ensuring no tax up to ₹12 lakh and outlining revised slabs effective from AY 2026–27.
Learn how Section 87A rebate works with LTCG u/s 112A under the new tax regime for FY 2025–26. Eligibility, limits, and tax calculation explained simply.
Explains how the new tax regime under Section 115BAC impacts higher-income salaried taxpayers, analysing the 25% slab, loss of deductions, marginal tax effect, and whether salary hikes still lead to real take-home growth.
The Tribunal held that a one-day delay in filing Form 10IE for an earlier year cannot defeat the assessee’s right to be taxed under the new regime. The assessee was directed to be taxed under Section 115BAC for AY 2023–24.
Section 87A rebate allows resident individuals with income under specified limits to reduce their tax liability to zero, clarifying the “no tax” claim.
Explains why returns get shifted to the Old Regime due to missed deadlines or form errors and outlines when rectification is possible.
Learn how students and first-job earners can choose the right tax regime to maximize in-hand salary and build long-term savings.
Explains the key differences in slabs, deductions, and rebates, highlighting when each regime reduces tax liability.
