Tag: income tax slabs

New Income Tax Act will come into effect on April 1, 2026: FM Sitharaman

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New Income Tax Act will come into effect on April 1, 2026: FM Sitharaman

Image used for representation purpose only. | Photo Credit: Getty Images/iStockphoto During her Union Budget presentation on Sunday (February 1, 2026), Finance Minister Nirmala Sitharaman informed that the new Income Tax, 2025, would come into effect in April this year, with the forms and rules to be notified “shortly” provisioning “adequate time” for taxpayers to acquaint themselves with the requirements.  …

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Income Tax Budget 2026 Live Updates Expectations FM Nirmala Sitharaman Income Tax Slab Changes January 30

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According to Rajeev Gupta, Executive Vice President & Business Head – Third Party Products, Religare Broking Ltd over the decades, India transform from a nation of savers to a powerhouse of investors. ”While the 2025 Budget was a landmark victory for the middle class, effectively making income up to Rs 12.75 lakh tax-free, the Union…

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Revised income tax slab rates, Budget 2024: Salaried individuals stand to save up to ₹17,500, standard deductions hiked

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Revised income tax slab rates, Budget 2024: Salaried individuals stand to save up to ₹17,500, standard deductions hiked

The Finance Minister had stated in her address that more than two-thirds of the taxpayers had availed the new regime in the previous fiscal year. | Photo Credit: The Hindu Altering the structure for taxation of income under the new regime, Finance Minister Nirmala Sitharaman on Tuesday revised the tax slabs whilst retaining the erstwhile corresponding…

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New Tax Regime Slabs To Be Changed, Standard Tax Deduction Increased From 50,000 To 75,000

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New Tax Regime Slabs To Be Changed, Standard Tax Deduction Increased From 50,000 To 75,000

New Delhi: Standard deduction in the new tax regime will be increased from Rs 50,000 to Rs 75,000, Finance Minister Nirmala Sitharaman said Tuesday as she announced the 2024 Union Budget.  Ms Sitharaman also announced revisions to tax slabs in the new regime. As a result, the Finance Minister told Parliament, salaried employees can save…

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