In the case of EPF, employee contributions generally qualify for a deduction under Section 80C of the Income Tax Act, capped ...

A revision in section 80D would not only support taxpayers but also strengthen the health insurance industry, making quality ...

This income tax deduction is offered for the contributions made by the employer towards National Pension System (NPS).

The new tax regime simplifies income tax, but with fewer deductions in play, taxpayers must make the most of the available ...

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

In Budget 2025, the government opted not to modify the existing tax regime or introduce any new deductions. Finance Minister ...

Despite the removal of many benefits, certain allowances remain exempt under the new tax regime, providing some relief to ...

In the Budget 2025, Finance Minister Nirmala Sitharaman increased the income tax rebate limit from Rs 7 lakh to Rs 12 lakh in the New Tax Regime. Effectively, individuals earning up to Rs 12 lakh will ...

The new Income Tax Bill will replace the current Income Tax Act, once it becomes effective from April 1, 2026. However, many ...

Married couples need to determine which tax regime offers lower tax liability for each spouse considering their income ...

The provisions of the New Tax Regime outlined in Section 115BAC of the Income-Tax Act, 1961 will be moved to Section 202 in ...

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