[ad_1] Finance Minister Nirmala Sitharaman has introduced a major tax relief, making incomes up to ₹12 lakh tax-free. For salaried individuals, this limit increases to ₹12.75 lakh after factoring in the standard deduction of ₹75,000. With this move, over one crore taxpayers will exit the tax net, costing the government ₹1 lakh crore in forgone […]
A look at current income tax rates and deductions ahead of Budget 2025 – CNBC TV18
[ad_1] The upcoming Budget 2025 has led to discussions about potential changes in tax rates and deductions. Individual taxpayers, who saw limited changes in the July 2024 Budget, are now hopeful for meaningful reforms to reduce financial pressure and increase savings. The dual tax regime system—Old Tax Regime (OTR) and New Tax Regime (NTR)—has provided […]
Budget 2025: Will you get more income tax rebates? – CNBC TV18
[ad_1] As the Union Budget 2025 approaches, expectations for reforms in personal income tax slabs are rising. Taxpayers and industry experts alike have urged the government to address the high marginal tax rates and inflationary pressures on disposable incomes. Currently, India offers two income tax regimes: the new tax regime and the old tax regime, […]
Budget 2024 changes new tax regime with revised slabs and increased standard deduction – CNBC TV18
[ad_1] Budget 2024: Finance Minister Nirmala Sitharaman announced changes to the new income tax regime on Tuesday (July 23), presenting revised tax slabs and an increased standard deduction as part of the Budget 2024 measures. These changes are aimed at providing relief to taxpayers and encouraging more individuals to opt for the new tax regime. […]