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Latest from tax regime

Old tax regime vs new tax regime with revised slabs: What to choose in 2025-26?

Though the new income tax regime will feature revamped tax slabs from April 1, 2025 onwards, the old regime offers a slew of deductions and exemptions.

Many of those who use the old regime may consider switching to the new one since the Union Budget 2025 has substantially brought down the slab rates for incomes up to <span class='webrupee'>₹</span>24 lakh.(Pixabay)
Published on Mar 21, 2025 01:46 PM IST

Budget 2025: Why the government is reluctant to reduce personal income tax

The new tax regime offers lower tax rates for forgoing various deductions and rebates for interest paid on housing loans

Personal income tax provides significant and steady revenues to the government. Its collection exceeds the government's revenues from taxes on the profits of corporations.(PTI)
Updated on Jan 28, 2025 12:39 PM IST

How to switch to old tax regime from new tax regime for filing income tax

All those with non-business income can chose to alternate between the old tax regime and new tax regime once a year

The current income tax rules does provide the freedom for taxpayers to choose between the new tax regime and the old tax regime based on whichever may be more advantageous to them. (HT PHOTO)
Published on Jul 29, 2024 06:44 PM IST

Budget 2024 is an exercise to simplify the tax regime - Revenue Secretary Sanjay Malhotra

The government is making efforts to simplify the tax regime and treat all asset classes similarly for taxation, revenue secretary Sanjay Malhotra said in an interview with Hindustan Times.

The budget’s proposal to remove indexation from the long-term capital gains in real estate is an effort to simply the tax regime, said Sanjay Malhotra (PTI)
Updated on Jul 29, 2024 07:32 AM IST
ByRajeev Jayaswal

Reforms of new tax regime may reduce tax burden and allow option to choose again

Finance Minister Nirmala Sitharaman proposed changes to the tax slabs of the new tax regime in her Union Budget 2024 speech.

Nirmala Sitharaman pictured at the Lok Sabha on July 23, with the Union Budget
Published on Jul 24, 2024 04:44 PM IST
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