In the Budget 2025, Finance Minister Nirmala Sitharaman increased the income tax rebate limit from Rs 7 lakh to Rs 12 lakh in ...

Despite the removal of many benefits, certain allowances remain exempt under the new tax regime, providing some relief to ...

Introduced in 2020, the new tax regime became a default regime in 2023. To be able to file tax return under the old tax ...

These include any allowance granted to meet the cost ... However, the provision empowers the CBDT to prescribe certain exemptions available under section 10 which can be availed by the employees".

Agniveer corpus fund: Under both the old and new tax ... is not permissible. House Rent Allowance: The HRA exemption outlined in section 10(13A) is not permitted. Other Allowances: Any other ...