tax rebates

Section 115BAC on New Tax Regime is Section 202 under Income Tax Bill 2025; check details 

by
Section 115BAC on New Tax Regime is Section 202 under Income Tax Bill 2025; check details 

The newly introduced Income Tax Bill 2025 aims to simplify the existing provisions of the Income-Tax Act, of 1961. The provisions of the New Tax Regime outlined in Section 115BAC of the Income-Tax Act, 1961 will be moved to Section 202 in the new Income-Tax Bill 2025, effective from April 1, 2026. The bill includes … Read more

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

by
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