It is to be noted that while the new regime provides a lower tax rate for specific tax slabs, the old tax regime has enough room for claiming deductions under Chapter VI-A against various ...

What if someone earning above Rs 12.75 lakh annually chooses the old regime and claims the maximum deductions? Will it result in tax savings? This article explores the key deductions available under ...

As per the Income Tax Act, 1961, it is mandatory to file an Income Tax Return (ITR) if your taxable income is more than the ...

The Union budget 2025 presented in the Parliament today on 1st February 2025, the Finance Minister Mrs. Nirmala Sitharaman has given the middle-class taxpayers a big Income tax relief, Under the new ...

In a country with little social security, taking away deductions in the same of tax code simplification is contributing to ...

Finance Minister Nirmala Sitharaman’s Union Budget 2025 speech on February 1, 2025 is being looked at to provi ...

The new regime provides for lower tax rates but offers limited deduction. On the other hand, the old regime starts taxing incomes above Rs 2.5 lakh, but remains a lucrative option for taxpayers as it ...

The Supreme Court of India ruled that private entities performing public functions fall under the writ jurisdiction of High Courts and the Supreme Court. However, it clarified that private banking ...

However, investors should be aware of two important changes in 2025. First, the income limits for traditional IRA deduction limits have increased. Second, the income limits for Roth IRA eligibility ...

The contribution limits for individual retirement accounts (IRAs) didn't change in 2025. The modified adjusted gross income thresholds concerning the deductible portion of traditional IRA ...