The new tax regime offers five income tax slabs to taxpayers. The highest income tax rate of 30% is applicable if the net taxable income exceeds Rs 15 lakh. The new tax regime offers a tax rebate of ...

Income Tax Slabs | Budget 2025: There will be zero income tax up to an annual income of ₹12 Lakh under the new tax regime, FM Sitharaman has announced. Income Tax Slabs | Budget 2025 ...

What is the Earned Income Tax Credit ... filing status, and the number of qualifying children. It’s also a refundable credit, meaning you can get a tax refund even if you don’t owe taxes.

For instance, if your income is ₹11 lakh per annum, it will be taxed at 15 percent in the new tax regime unlike 30 percent in the old tax regime. Likewise, an income of ₹9 lakh is taxed at 10 ...

In the Union Budget 2025, the Finance Minister announced significant changes to the new income tax regime Under the new tax system, people will not have to pay income tax on annual earnings up to Rs ...

Select Age Group: Select your age group. This is because tax liability as per the government rules is based on the age of the income taxpayer. Proceed to Next Step: Click on ‘Go to Next Step’. Enter ...

New Income Tax Bill Budget 2025: A new income tax legislation will be introduced by the government next week in the ongoing Budget session of the Parliament, Union Finance Minister Nirmala Sitharaman ...

Budget 2025 has sought to bring down the number of transactions liable for tax deducted at source (TDS) by setting higher threshold limits across a spectrum of income streams, thus benefitting ...

In the 2025 Budget, Finance Minister Nirmala Sitharaman introduced significant revisions to the income tax slabs under the new tax regime. These changes aim to ease the financial burden on ...

5. How much tax did a person earning ₹12 lakh pay earlier, and how much now? Previously, under the new tax regime, an individual earning ₹12 lakh was required to pay ₹80,000 in income tax. With the ...

Track Income Tax Budget 2025 LIVE updates with Mint as ... Budget 2025 Key Highlights: “A number of senior and very senior citizens have very old National Savings Scheme accounts.

Finance Minister Nirmala Sitharaman overhauled income tax rates and slabs in Budget 2025-26 to bring relief to the salaried middle class. Here's how much you will be saving now if you are in the new ...