Companies anticipate increased demand due to income tax relief starting in April. This could boost consumption, especially in ...

FY26 has brought with it several tax changes – the biggest one of them being the huge sweetener in the new income tax regime. This, along with major capital gains tax changes announced in July 2024 ...

Pay Advance Tax, if Required – If the total tax liability exceeds Rs. 10,000 (after considering deductions and rebates), the ...

The new tax regime also offers a higher standard deduction. Last year, it was raised from Rs 50,000 to Rs 75,000 for salaried ...

You should opt for the old tax regime if you want to claim deductions and exemptions for house rent allowance.

The highest tax rate of 30 percent kicks in when annual income is more than ₹15 lakh in the new tax regime. Additionally, tax ...

Higher Income Brackets: For people with annual incomes above Rs 24 lakh, both regimes apply the same top tax rate of 30%. But ...

Salaried and self-employed individuals can use HRA exemption under Section 10 (13A) and Section 80GG, respectively. HRA helps ...

Under the old tax regime, individuals and businesses could claim a variety of exemptions and deductions—such as house rent ...

Under the new income tax regime, taxpayers can now avail of a standard deduction of up to Rs 75,000, which makes an annual ...

Old tax regime, however, still offers taxpayers a range of options to save taxes through various eligible deductions and ...

However, there’s a crucial caveat. This flexibility to change regimes is only available if the ITR is filed on or before the ...