Note:The slabs and rates of tax in the 'Proposed New Tax Regime Slab Rate' column apply to taxpayers of all ages. The new income tax slab rates result in lower taxes for individuals with net ...

The government should consider revising tax slabs to provide relief to middle-class taxpayers by potentially reducing individual income tax rates. "Address inflation by increasing the exemption ...

Income limit for rebate of income tax increased from ₹5 lakh to ₹7 lakh in the new regime in Budget 2023. Union Finance Minister Nirmala Sitharaman will present Union Budget 2025 tomorrow ...

Aliss Higham is a Newsweek reporter based in Glasgow, Scotland. Her focus is reporting on Social Security, other government benefits and personal finance. She has previously extensively covered U ...

The strategy is reinforced by Section 56(2)(x) of the Income Tax Act, which states that gifts to parents are fully tax-free, regardless of the amount. The 2025 ITR filing season has begun ...

New VAT clarification has led businesses to seek out more info on issuing tax invoices The new VAT update provides food for thought for businesses with sizable imports of goods and services.

The maximum tax limit is 30 per cent on an annual income of more than Rs 24,00,000. You can see that as per tax slabs, one needs to pay a Rs 60,000 tax on an income of Rs 12,00,000. But then why are ...

BATON ROUGE — The Louisiana House of Representatives voted 86-13 Wednesday to approve a bill that might further cut the state’s new flat individual income tax rate and create a tax break for ...

Meredith Moore is the Founder & CEO of Artisan Financial Strategies LLC. She is fascinated by the interplay between gender, money and power. Tax season often feels like a sprint to the finish line ...

Income tax calculations, ITR filing for FY2526: In the new tax regime, tax slabs have been significantly revised. These slabs will be applicable for the income earned in the financial year 2025-26.