Whether you are required to file a federal income tax return this year will depend on how much you earned last year, plus a ...

The new tax regime – the default – offers a basic exemption limit of Rs 3 lakh for all individuals, regardless of age. This ...

This tool allows individuals to compare their tax liability under both the old and new tax regimes by entering their income ...

The Income Tax Department has introduced an online calculator for taxpayers to compare their potential savings under the ...

These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

The Union Cabinet is expected to approve the new Income Tax Bill today, potentially leading to its introduction in the Lok ...

In her Budget 2025 address, FM Nirmala Sitharaman announced modifications to the new tax regime, such as the exemption of up ...

Martin Lewis' Money Saving Expert (MSE) team has shared a clever way for electric vehicle (EV) owners to take advantage of a ...

If implemented, this initiative could be a game-changer. Industry insiders estimate that Bangladesh could save $1 billion in foreign currency annually by reducing its reliance on imported APIs ...

Finance Minister Nirmala Sitharaman raised the nil income tax slab to ₹12 lakh for salaried individuals. This entails a tax ...

On the other hand, if the taxpayer's age is 60 years or more but below 80 years, then he/she will be considered a senior citizen, and income up to Rs 3 lakh will be exempt from tax. If the taxpayer's ...

The new regime has lower tax rates and a simpler structure but does not allow deductions. On the other hand, the old regime offers deductions and exemptions but has higher tax rates. This has led to ...