The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...

The forthcoming income tax Bill could be a revolutionary step to open a new chapter in India's fiscal narrative. It is poised ...

The government’s latest tax overhaul of income tax slabs in Budget 2025 is aimed at introducing a more streamlined tax system ...

Income tax on cryptocurrency transaction. After Budget 2025 there is no change in taxation of cryptocurrencies as they ...

Budget 2025 simplifies tax rules and provides major relief to taxpayers. The new tax slabs, second-home exemption, senior ...

The Union Budget 2025-26 has delivered the largest tax exemption hike in two decades, allowing individuals earning up to Rs 12 lakh annually to pay zero income tax under the new regime. This move aims ...

According to experts, even if an additional 5% of people opt to buy new vehicles, it may bring a huge boost to sector. This ...

Standard deduction has been raised from the current ₹25,000 to 60,000 now and tax rebate under section 87A which was ₹25,000 ...

Budget 2025 has made income up to ₹12 lakh effectively tax-free under the new tax regime. The Finance Minister increased the ...

Vide Finance Act 2022, taxation of virtual digital assets (VDA) has been introduced in the Income-tax Act, 1961 (‘the Act’), under section 115BBH of the Act in which the transfer of VDA is to be taxed ...

Currently, about 74-75 per cent of taxpayers file their returns under the new income tax regime, the official said citing government data.

These amendments aim to eliminate ambiguity and ensure uniformity in calculating the limitation period for tax proceedings. Most of the changes will take effect from April 1, 2025, while some ...