If you're planning to file your Income Tax Return (ITR) for the financial year 2024–25, it's crucial to understand the ...

Latest income ... the total tax. Then, add the Health and Education Cess (4%) and surcharge (if applicable) to determine the ...

The new tax regime, anyway, levies lower tax rates on the same gross income compared to tax liability calculated under the old tax regime. Sridharan Sundaram, a Sebi-registered investment advisor ...

ITR filing 2025: Before filing your income tax return, it is vital to compare the tax computation under both the tax regimes i.e., old and new. And you can opt for the regime which gives lower tax ...

Old versus revised new tax regime: Let us consider an individual with Rs 5.5 lakh income, who avails no deductions and exemptions except for standard deduction. For such a salaried taxpayer ...

Latest Income Tax Slabs ... However, choosing between the old regime and the new tax regime is dependent on the person and his/her financial profile. Notably, the The New Tax Regime is beneficial ...

Under the old regime ... no difference in tax payable as no tax has to be paid. Tax comparison on taxable income of Rs 7.5 lakh. So, tax payable will be Rs 26,000 less under new regime on taxable ...

“Democracy, Demography and Demand are the key support pillars in our journey towards Viksit Bharat. The middle class provides strength for India’s growth. This Government under the leadership ...

As a tax-paying ... 80 Years Income tax slabs for super senior citizens under the old income tax slabs in India would be: In a direct comparison of the old tax regime versus the new tax regime ...

The Income Tax department on Monday released a “tax calculator” tool on its website to help an assessee compare savings under the new tax regime provisions, as announced in the Budget, and the ...

Opt for the Old ... new and streamlined tax regime presents as a more advantageous option. The tax liability on this income will decrease given the lower surcharge rate, standing at 39%, in ...

Income Tax Slabs: The new tax slabs announced by Union Finance ... the same as the top slab," Kathuria explained. The old regime, in comparison, retains its traditional deductions (like HRA ...