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Tax on subsequent amount of 4 lakh (from 4 lakh to 8 lakh) Rs 20,000 (being 5% of Rs 4 lakh) Tax on subsequent amount of 4 lakh (from 8 lakh to 12 lakh) Rs 40,000/- (being 10% of Rs 4 lakh) Tax on ...

The new tax rates and slabs will come into effect from financial year 2025-26 (Assessment year 2026-27). Budget 2025 also did not make any changes to the old tax regime.

Once you figure out which tax slab you fall under as per your tax regime, it becomes easier to calculate and file taxes, evade charges, and avail of deductions or exemptions accordingly.

*Note- No deduction available except mentioned below. Standard Deduction U/s 16(ia) upto Rs.75,000/-Family Pension U/s 57(iia) upto Rs.25,000/-Deposited in the Agniveer Corpus Fund u/s 80CCH(2) Rebate ...

The initiative aims to restructure the GST slabs for better outcomes and resolve complexities that create compliance challenges, possibly through a simplified three-rate structure. GST reforms ...

Income Tax Slabs 2025 LIVE Updates: Tax reforms show empathy of govt towards the middle class, says Allcargo Group Chair ”The budget has put the economy firmly on the track to attain the Viksit Bharat ...

New Delhi: Union Finance Minister, Nirmala Sitharaman's eighth consecutive Budget is the relief for middle-class salaried taxpayers, though the revised tax slabs have left many confused about the ...

Over the past decade, key changes have included higher exemption limits, revised tax slabs, and enhanced rebates, reflecting a consistent push for tax relief. Budget 2025 prioritised three key ...

The new income tax regime provides for concessional tax rates and liberal slabs. However, no deductions are allowed in the new regime (other than those specified for, e.g., 80JJAA, 80M ...

New Tax Regime vs Old Tax Regime Slabs and Rates: Finance Minister Nirmala Sitharaman has announced significant income tax relief for the middle class in the Union Budget 2025. Budget 2025 New Tax ...