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old tax regime

Income Tax Calculations: What will be your income tax on incomes of Rs 7 lakh, Rs 14 lakh, Rs 21 lakh, and Rs 28 lakh in old and new tax regime

Income Tax Calculations: What will be your income tax on incomes...

Thu, Mar 06, 2025

Income Tax Calculations: The financial year 2024-25 is about to close. Taxpayers can file their income tax return as per the existing new tax regime and the old tax regime. They will have the option of filing ITR in the proposed new regime. But how much tax they need to pay in the existing new, proposed new, and old tax regimes if their annual salary is Rs 7 lakh, Rs 14 lakh, Rs 21 lakh, Rs 28 lakh, and Rs 35 lakh.

Proposed New Income Tax Calculations: Is your salary Rs 12,78,500/year? Will you be taxed on Rs 3,500 or the entire amount?

Proposed New Income Tax Calculations: Is your salary Rs 12,78,500...

Wed, Mar 05, 2025

Revised New Income Tax Calculations: Yearly income up to Rs 12,75,000 will be tax-free for salaried-class individuals in the proposed new tax regime. But what if your salary increases by a small margin? Will you be taxed on the incremental income or your entire salary? If you get Rs 12,78,500 yearly income, will you be taxed on Rs 3,500 or Rs 12,78,500? See calculations to know!

Income Tax Calculations: What will be your tax liability if your salary is Rs 8.25 lakh, Rs 14.50 lakh, Rs 20.75 lakh, or Rs 26.10 lakh? See calculations

Income Tax Calculations: What will be your tax liability if your...

Wed, Feb 26, 2025

Income Tax Calculations: Taxpayers will file their Income Tax Returns (ITR) as per the existing new tax regime and the old tax regime for the financial year 2024-25. For the next financial year, they may file it under the proposed new tax regime, which was announced in Budget 2025. But what will be your income tax in different tax regimes if your annual income is Rs 8.25 lakh, Rs 14.50 lakh, Rs 20.75 lakh, or Rs 26.10 lakh?

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Budget 2024: Time For A Regime Change! Why Opting For The New Tax Regime Makes Sense

Budget 2024: Time For A Regime Change! Why Opting For The New Tax...

Wed, Jan 31, 2024

Budget 2024: Taxpayers took some time to warm up to the New Tax Regime when it was first announced in 2020. The Finance Minister announced some more changes to in it the last Budget to make it all the more appealing for taxpayers, especially the young salaried class. So, find out where the New Tax Regime now scores over the Old one.

Old Tax Regime clear winner, preferred by 63% taxpayers who prioritize long-term investments, tax-saving: Survey

Old Tax Regime clear winner, preferred by 63% taxpayers who prior...

Mon, Dec 11, 2023

The report indicates a shift in investment mindset, with 62 per cent of respondents in the age bracket of 18 to 30 years choosing the Old Tax Regime, citing long-term investments as the reason.

Old vs New Tax Regime: How to decide which is good for you

Old vs New Tax Regime: How to decide which is good for you

Mon, Apr 17, 2023

Old vs New Tax Regime: The month of April is considered crucial as employees have to make sure that they choose the right income tax regime for maximum saving

Money Guru: Old Vs New Tax Regime - Which Tax Regime Can Help You Save More Tax?

Money Guru: Old Vs New Tax Regime - Which Tax Regime Can Help You...

Tue, Apr 11, 2023

If you have not yet chosen the tax regime for yourself, then do so because now the new tax regime will be considered as the default regime. In such a situation, today on Money Guru, know which tax regime can help you save more tax? Old Vs New Tax Regime - Which is better?

Here is how to claim rebate under Section 87A of Income-tax Act

Here is how to claim rebate under Section 87A of Income-tax Act

Mon, Apr 10, 2023

Income Tax: If the taxpayer comes under the limit of a tax rebate, he/she will get the whole tax amount back at the end of the fiscal year by claiming the benefit of the rebate under section 87A.

Income Tax: What happens if employee fails to pick between new and old tax regime? CBDT notification instructs employers how to deduct tax in such cases

Income Tax: What happens if employee fails to pick between new an...

Fri, Apr 07, 2023

Income Tax, Default Tax Regime: Employers will have to take ascent from their employees regarding their choice to opt for new tax regime or the old tax regime.

Old vs New Tax Regime: Here's what taxpayers need to know

Old vs New Tax Regime: Here's what taxpayers need to know

Thu, Mar 30, 2023

The tax rates which a taxpayer needs to pay on their income and income from other sources will be changing from April 1st, 2023. In Budget 2023, Finance Minister Nirmala Sitharaman announced key major changes for hard-working middle-class citizens who pay taxes.

No timeline to remove old tax regime, Revenue Secretary Sanjay Malhotra says

No timeline to remove old tax regime, Revenue Secretary Sanjay Ma...

Fri, Feb 03, 2023

There is no timeline to remove the old tax regime Revenue Secretary Sanjay Malhotra has said. He said that 50-60 per cent of the tax payers may switch to the new tax regime

Union Budget 2023: CBDT and CBIC chairman on Income Tax Slabs and GST collection

Union Budget 2023: CBDT and CBIC chairman on Income Tax Slabs and...

Thu, Feb 02, 2023

Nitin Gupta, Chairperson, CBDT and Vivek Johri Chairman, CBIC talks about the changes in the tax slabs, how the restructuring of tax regimes can benefit the masses, and the impact of inflation on GST collection.

Old Income Tax Regime Vs New: How are both different?

Old Income Tax Regime Vs New: How are both different?

Wed, Nov 30, 2022

Budget 2023: In 2020, the government proposed a new tax regime for taxpayers.

Income tax exemptions: No timeline yet for phasing them out, says FM Nirmala Sitharaman

Income tax exemptions: No timeline yet for phasing them out, says...

Mon, Feb 17, 2020

Finance minister Nirmala sitaraman said that there is no timeline for phasing out exemptions on personal income tax in old regime.

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