Direct Tax

introduction: The government introduced various incentives in the recent times to encourage the adoption of the new regime. These changes show that the government intends to have taxpayer’s transition to the new regime and eventually phase out the old one. Though the new regime is now the default tax regime, the old tax regime will … Read more

The income earned up-to ₹12 Lakhs under new regime will ultimately have Nil tax liability. Here’s how! The modified slab rates for new tax regime applicable for FY 2025-2026 are as follows: Income Tax Slabs Tax Rates Up-to ₹ 4,00,000 NIL ₹ 4,00,001 – ₹ 8,00,000 5% ₹ 8,00,001 – ₹ 12,00,000 10% ₹ 12,00,001 … Read more