Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : Earning ₹15 lakh? Know how new tax slabs work and why ₹12 lakh exemption doesn’t apply. Learn about rebates, slab-wise taxat...
Income Tax : Budget 2025 introduces no income tax on earnings up to ₹12 lakhs under the new regime, offering significant relief. Learn about ...
Income Tax : Countrywise withholding tax rates as per the Income Tax Act compared to tax treaties/DTAA. Understand differences & implications f...
Income Tax : Understand the tax filing process in India and analyze the tax regime for FY 2023-24. Explore old and new tax rates, deductions, a...
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 : Union Budget 2025 expectations include tax relief, GST reforms, R&D support, and measures for MSMEs. Common demands focus on easin...
Income Tax : Get clarity on the applicability of the new tax regime versus the old tax regime. Understand the differences and choose the regime...
Income Tax : MAJOR ANNOUNCEMENTS IN PERSONAL INCOME TAX TO SUBSTANTIALLY BENEFIT THE MIDDLE CLASS PERSONS WITH INCOME UP TO RS. 7 LAKH WILL NOT...
Corporate Law : After criticism on Tax Rate Reduction for Corporates Income Tax India has given following clarification on Twitter. It is to be no...
Income Tax : Higher rate of tax was prescribed in section 115BBE through an amendment made vide Taxation Laws (Second Amendment) Act, 2016 and ...
Income Tax : CBDT issues Income Tax Circular 06/2022 | Dated: 17th March, 2022 to condone the default in filing Form 10-IC to avail lower tax r...
Income Tax : Circular 29/2019 – Clarifications on set off of brought forward loss due to additional depreciation & MAT credit if comp...
Goods and Services Tax : CBIC notifies concessional CGST rate on specified handicraft items vide Notification No. 21/2018-Central Tax (Rate), Dated: 26th J...
Goods and Services Tax : CBIC allows Refund of accumulated credit on account of inverted duty structure to fabric manufacturers vide Notification No. 20/20...
Goods and Services Tax : CBIC amends list of goods exempt from GST vide Notification No. 19/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect fr...
Budget 2023s new tax regime: A mix of flexibility and choice with potential for reduced savings. Understand the benefits and drawbacks before deciding.
Decode the changes in tax rate with the new Finance Bill (Budget) 2023 – an individual’s guide to the new & old regime.
Navigating through different income brackets and the best-suited tax regime for them post Union Budget 2023.
The only way to determine old vs new tax regime- which is better is to enter income under both regimes to determine the actual tax payable.
Section 115BAC was introduced in Finance act 2020 as New Tax Regime whereby new tax rates were introduced for Individuals and HUF as an option to existing tax rates applicable.
Old and new scheme applies to Individuals and HUF. In the old scheme, the taxpayer can claim deductions of Section 80C, and 80D and deductions under other sections like Interest paid on Housing Loans, LIC Premium Paid, PPF Contribution etc.
Budget 2023: New Tax Regime vs Old Tax Regime – Tax Computation for Salaried in Excel Current Budget 2023 proposed certain amendments in New tax regime for Individuals by amending the tax Slab and extending certain deductions to New tax regime to make it more attractive and successful. Also as mentioned by Hon’ble Finance Minister […]
Delve into the comparison between the old and new income tax regimes in India. Explore the impact on deductions, exemptions, and overall tax liability.
Understand the differences between old and new income tax regime and decide which taxation scheme suits you best with our guide. Old Vs New Income Tax Regime – Which is beneficial to me
Higher rate of tax was prescribed in section 115BBE through an amendment made vide Taxation Laws (Second Amendment) Act, 2016 and the said amendment received assent of the President of India on 15.12.2016 and therefore the amendment shall apply prospectively w.e.f. 15.12.2016 and not retrospectively.
