The income tax rates for the assessment years (AY) 2025-26 and 2026-27 remain unchanged across categories. Under Section 115BAC, default rates for individuals and Hindu Undivided Families (HUF) ...

The new Income Tax Bill will replace the Income Tax Act. However, not many people are able to understand how the new tax bill ...

The Government of India levies ... under the new income tax regime. The basic exemption limit is now INR 4 lakh, up from the previous limit of INR 3 lakh (explained in the table below).

The proposed bill does not change tax rates. Instead, it focuses on three key improvements: simplifying language for better ...

How is Cost Inflation Index used in Income Tax? Long term capital assets are recorded at cost price in books. Despite increasing inflation, they exist at the cost price and cannot be revalued. When ...

The reinstatement of indexation in India’s tax system aims to ensure fair taxation and restore market confidence. It protects taxpayers from inflated tax burdens, encourages long-term investments, and ...

The income tax slab of 30% has remained at Rs 15 lakh since 2020. However, the Cost Inflation Index (CII) has increased by 21 ...

Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill in Lok Sabha, aiming to simplify tax laws with clearer language and streamlined provisions. | One of India's leading Digital News ...

India cut personal income tax rates for some individuals in a bid to boost consumption across Asia's third-largest economy, ...

Union Budget 2025 LIVE updates: Finance Minister Nirmala Sitharaman, in her eighth consecutive budget in a row, said income ...

Finance Minister Nirmala Sitharaman proposed alterations to the capital gains tax structure, elevating the short-term capital gains tax rate from 15% to 20% and establishing the long-term capital ...