New vs Old tax ... you pay more under new tax regime or old? Calculate here Read below to know what experts demand from the Finance Minister in Budget 2025. We spoke with several chartered accountants ...

Anyone earning Rs 2.5 lakh or more in India must file an ITR. This rule applies to everyone, not just high-income earners.

Go to Income Tax e-portal. On the left-hand side, you can click the comprehensive review, and a new window opens ... you can check the section number and return to the previous page.

For taxpayers with income from business and profession, the new tax regime is the default. If these taxpayers wish to opt-out, they must submit Form 10-IEA on or before the due date for filing the ...

How to choose between new and old tax regime A salaried individual (not having any business income) is required to choose between the two tax regimes every financial year. The choice has to be ...

Highlights: FM Nirmala Sitharaman's announcement on February 1 brings a gift for the Indian middle class with no tax payable ...

Income Tax Slabs | Budget 2025: There will be zero income tax up to an annual income of ₹12 Lakh under the new tax regime, FM Sitharaman has announced. Income Tax Slabs | Budget 2025: In a major ...

Personal tax experts are of the view that since no major exemptions and deductions are available under the new income tax regime, there is a strong case to hike the standard deduction. Budget 2025 ...

Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant income tax relief for the middle class in the Union Budget 2025, eliminating ...

About 6 crore income tax returns have been filed for income earned in 2023-24, of which 70 per cent were filed under the new simplified tax regime which offers lower rate of tax, Revenue Secretary ...

One of the standout measures is effectively making an annual income of Rs. 12 lakh tax-free. Under the new tax regime ... year to file an updated return. The Budget suggests extending this ...

it looks like the new rates under the new tax regime may not be for everyone. “There will be no income tax payable up to an income of Rs 12 lakh under the new regime,” Sitharaman said.