Inflation affects everyone, including the economy and taxes. India's Income Tax Act has provisions to adjust tax liabilities for inflation. These adjustments ensure taxpayers aren't burdened with ...

Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant income tax relief for the middle class in the Union Budget 2025, eliminating ...

Income Tax 2025: Nirmala Sitharaman’s 2025 budget introduces a revamped tax structure, eliminating income tax for earnings up to Rs. 12 lakh. (REUTERS) Union Finance Minister Nirmala Sitharaman ...

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 ...

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 ...

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 ...

Heads of households will benefit from a deduction of $22,500, which is $600 more than in 2024. These adjustments aim to reduce taxable income, potentially lowering the overall tax burden for many ...

Since presenting Budget 2025 on Friday afternoon, I have been in receipt of several requests to explain in further detail the adjustments that our Government is proposing to the provisions regarding ...

These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

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