The concept of ‘tax year’ has been introduced replacing ‘previous year’ and ‘assessment year’ in the new Income Tax Bill ...

Simplification: The provisions under the Income Tax Bill, 2025, have clearer language and cater to modern work scenarios, ...

The new Income Tax Bill 2025 consolidates salary provisions for clarity, incorporating previous deductions into the salary ...

The new Income Tax Bill, 2025 aims to simplify language, reduce litigation, and lower compliance burdens. It introduces ...

The objective of the new Bill is to streamline the Income Tax Act, making it more succinct, understandable, and user-friendly ...

Under the new bill, the draft proposes a standard deduction of Rs 75,000 or the salary, whichever is less, where income is ...

What if someone earning above Rs 12.75 lakh annually chooses the old regime and claims the maximum deductions? Will it result in tax savings? This article explores the key deductions available under ...

In its results, you’ll see the “pre-tax return” – that is, the total amount of savings interest you’ll earn for the year. This is set against your personal savings allowance, which is ...

Income tax (I-T) limit should be increased considering inflation. GST concession which is for 20 lakh service sectors should be for 40 lakh service sectors We have demanded 10% exemption in tax slab.

This means that if employees submit these expenses with corresponding receipts to their company, the reimbursements they receive are not subject to tax. Furthermore, certain types of payments do not ...

Budget 2025 income tax expectations: Experts predict that due to the government's focus on promoting the new tax regime, the old income tax regime might remain unchanged. Currently, the new tax ...

Deduction for employee’s contribution towards National Pension Scheme (NPS): To extend deduction of Rs 50,000 under section 80CCD(1B) to bring in parity between old income tax regime and new ...