Old Tax Regime vs New Ta Regime: Taxpayers often find themselves in a quandary when it comes to selecting the most suitable income tax regime. The Income Tax Department allows individuals to choose their preferred income tax regime for a particular financial year, with the frequency of switches permitted based on one’s profession or specific criteria … Read more
National Pension System 2024: The Centre may extend the benefits of the National Pension System (NPS) to the new tax regime, a report said on Wednesday. It is to be noted that the New Tax Regime doesn’t have most tax exemptions valid under the Old Tax Regime. CNBC Awaaz reported that the government may make … Read more
New Tax Regime: The Centre introduced the New Tax Regime under Section 115BAC as a new optional alternative to the Old Tax Regime from April 1, 2020 (FY 2020-21) for individuals and the Hindu undivided family (HUF). But after three years, Union Finance Minister Nirmala Sitharaman during the Union Budget 2023 announced that the New … Read more