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Budget 2025: Tax deductions, exemptions under New Tax Regime and Old Tax Regime for FY2025-26

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Budget 2025: Tax deductions, exemptions under New Tax Regime and Old Tax Regime for FY2025-26

Tax calculations: The Centre has once again aimed to enhance the appeal of the New Tax Regime by introducing lower tax rates and reducing deductions. This restructuring aims to simplify taxation, while the Old Regime continues to provide tax benefits through various exemptions and deductions. The proposed income tax slabs in the Union Budget 2025 … Read more

Union Budget 2024: Will the Section 80C deduction limit be increased in the 2024 Budget?

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Union Budget 2024: Will the Section 80C deduction limit be increased in the 2024 Budget?

ITR filing: When comes to choosing appropriate tax regime for tax calculation, Old Tax Regime is still preferred by many. Old Tax Regime offers various deductions that can help taxpayers save more taxes. The deduction under section 80C of the Income Tax Act is a tax-saving provision that is available exclusively to individuals and Hindu … Read more