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"New Tax Regime"

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UK: The Pensions Brief: February 2024 - Mayer Brown

The Finance Act 2024, which provides for the abolition of the lifetime allowance (LTA) and introduction of the new tax regime for lump sums and lump sum death benefits...
Mondaq - Published

What are the Income Tax Slabs for 2024-25? Know details for old and new tax regime

Income Tax Slabs 2024-25: It's important to note that while no adjustments were made to the income tax slabs in both the old and new tax regimes, this could change when the new government unveils the..
IndiaTimes - Published

Budget 2024: If Finance Minister Okays THIS, It Will Be Big Win For Salaried Class

The previous budget for 2023-24 expanded tax rebates under the New Tax Regime, raising the exemption limit from Rs 5 lakh to Rs 7 lakh.
Zee News - Published

Budget 2024 income tax: Why Rs 20 lakh and not Rs 15 lakh should be the new threshold for 30% tax rate

Budget 2024 income tax expectations: Income tax rates and tax slabs under the Finance Act 2023 have been reduced to five from six to make the new tax regime more lucrative. The simplified regime allows..
IndiaTimes - Published

Budget 2024 Income Tax: How income taxpayers can be given tax relief - Top steps for FM Sitharaman to consider

Budget 2024 income tax: In view of elections nearby, this year’s budget to be presented on February 1, 2024, will be an interim budget. Many taxpayers still chose the old regime, as giving up..
IndiaTimes - Published

Interim Budget 2024: Allow Deductions Under New Tax Regime To Increase Acceptance Among Salaried Class

Most Indian taxpayers have the habit of initially investing their savings in investment avenues that provide tax deductions under Section 80C .
Zee News - Published

Difference Between Old Vs New Tax Regime: Which Is Better?

One notable change is the increased tax rebate limit, allowing individuals with an income up to Rs 7 lakhs to enjoy a full tax rebate.
Zee News - Published

Investment declaration time: Did you opt for the new tax regime by mistake? Here’s what that means for ITR filing

Old vs New Tax Regime: This year's Budget has made the new tax regime the default choice for salaried taxpayers. If you haven't conveyed your preference to your employer, you will now be taxed under..
IndiaTimes - Published

‘Indian taxpayers prefer old income tax regime over new tax regime’; here’s why

Old versus new income tax regime: According to a survey by PB Fintech, 63% of Indian taxpayers continue to follow the old income tax regime, while 37% have switched to the new income tax regime. Women..
IndiaTimes - Published

UK: HMRC Clarifies Intentions Under Tax Regime From 2024-25 Especially For DB Lump Sum Benefits - WTW

HMRC has confirmed that the draft legislative clauses for the new tax regime are not intended to extend pension freedoms to defined benefit arrangements.
Mondaq - Published

FM Nirmala Sitharaman's BIG Announcement: 'No Income Tax For People Earning Up To THIS Much Per Annum Under New Tax Regime'

FM in a tweet said, ''Under the new regime, there is no income tax to be paid for annual income up to Rs 7 lakh, which effectively increases to Rs 7.27 lakh with marginal relief provisions.''
Zee News - Published

India's Goods And Services Tax Receipts Rise 12% Year Over Year In June

The monthly GST collected has topped the 1.5 trillion rupees-mark for the seventh time since the new tax regime was introduced in 2017. India's nominal growth is estimated to be 10.5% in the current..
Zee News - Published

Exploring Tax Benefits of Mutual Funds for Young Salary Earners

Over the past few years, India's youth have increasingly adopted mutual funds as their preferred mode of investment. As per a report by CAMS, one of the country's largest registrar and transfer..
NewsVoir - Published

Going for new tax regime? Don’t go off these tax-savers


IndiaTimes - Published

Choosing New Tax Regime? You Can't Claim Tax Rebate for THESE 7 Deductions

New Tax Regime Vs Old Tax Regime: Two people with the same salary might have different quantum of deductions, and hence their choice of tax regime could be different.
Zee News - Published

Benefits of new income tax regime explained; 4 reasons you should opt for it

In its February budget, the government increased the appeal of the New Tax Regime. But, which tax category you fall into will determine which tax system is most advantageous for you.
DNA - Published

New Tax Regime: Need clarity on India's new tax system? Here's all you need to know

The latest income tax regime in India aims to increase its adoption among taxpayers, as the central government continues to introduce proposals to make it more appealing.
DNA - Published

Employers to ask employees about preferred tax regime for deducting TDS from salary: CBDT

The Budget 2023-24 unveiled on February 1 tweaked the optional exemption-free tax regime, which is available under section 115BAC of the I-T Act to push salaried-class taxpayers to switch to the new..
IndiaTimes - Published

Expressway toll hike, new tax regime, costlier vehicles: List of changes from April 1

The adjustments are anticipated to affect Indian individuals' daily life, from a new tax structure to rising car prices to hike in expressway tolls and more.
DNA - Published

New income tax regime, other list of Income tax rule changes from April 1, 2023

According to the announcement made by finance minister Nirmala Sitharaman in her annual budget speech on February 1, the new tax regime will be the default system to file returns under.
DNA - Published

Explained: What Is Marginal Tax Benefit Announced By FM For Small Taxpayers? How Will It Benefit Them?

Finance Ministry announced to offer a marginal tax relief to small taxpayers under the new tax regime. This relief will be available from April 1, 2023 for the financial year of 2023-24.
Zee News - Published

Income tax 2023: Know 4 exemptions under new tax regime

It is significant to note that if a taxpayer chooses the new tax system, they will not be able to take advantage of deductions like Section 80C, Section 80D, and others.
DNA - Published

Lok Sabha Passes Finance Bill 2023 With 64 Amendments; Marginal Relief Proposed Under New Tax Regime

Sitharaman also announced that a new committee will be set up under Finance Secretary to look into the National Pension System (NPS) for government employees. So far, Punjab, Rajasthan, Chhattisgarh,..
Zee News - Published

Online Gaming Industry Appeals Government to Advance Implementation Changes in TDS Regime to April 1, 2023

*E-Gaming Federation (EGF)*, an organization representing top online skill gaming operators in India, applauded the government for the proposed amendments in TDS on net winnings from online gaming,..
NewsVoir - Published

Income tax calculator for new tax regime vs old tax regime launched, check how much tax you will pay

ITR filing: Taxpayers have to enter information related to their salary and deduction. The tax calculator will then reveal the tax savings under both regimes.
DNA - Published

Income Tax Calculator is LIVE Now --Here is How to Calculate Old Tax Regime Vs New Tax Regime Tax Liability

Here is the Step by Step Process on How to Calculate Old Tax Regime Vs New Tax Regime Tax Liability.
Zee News - Published

New Tax Regime to Benefit Middle Class; Leave More Money in Their Hands: FM

Sitharaman in her latest Budget proposed to extend the Rs 50,000 standard deduction benefit to persons opting for the new tax regime.
Zee News - Published Also reported by •IndiaTimes

New tax regime will leave higher disposable income, says Sitharaman in Lok Sabha


newKerala.com - Published

New tax regime sops may cut donations


IndiaTimes - Published

New Income Tax Regime 2023: Tax deduction to claim under new tax regime from April 1

In her Budget 2023, Finance Minister Nirmala Sitharaman put a strong emphasis on improving the appeal of this tax structure.
DNA - Published

Real Estate Stalwarts Applaud Urban Infra Push in Union Budget 2023

real estate stalwarts applaud urban infra push in union budget 2023
The Union Budget 2023-24 includes a swathe of favourable policies and reforms that promise a considerable boost to urban infrastructure and affordable housing. For example, the outlay of PM Awas Yojana..
NewsVoir - Published

Old Tax Regime Vs New Tax Regime: Which is Better For You? Check What Expert Says

Old Tax Regime Vs New Tax Regime: Tax payers are in a dilemma as to which option will be beneficial for them. Read on to find your suitable option.
Zee News - Published

New Tax Regime 2023: Revamped I-T Regime to Get 'Fabulous' Response, Says Income Tax Official

The new tax regime will be more beneficial for a person who does not have enough investments to claim I-T deductions. 
Zee News - Published

Union Budget 2023: 1cr in Rs 5-7L income range to gain from new tax regime

Close to one crore individuals in the Rs 5-7 lakh income range stand to gain from the government’s decision to increase the rebate level to Rs 7 lakh under the new tax regime, data available with the..
IndiaTimes - Published

Income Tax Rule 2023: Did New Slabs Confuse You Regarding ZERO Tax on Income up to Rs 7 Lakh? Check This Tax Computation

In order to address the confusion amongst people on the proposed slab rates of the new tax regime and also how Rs 7 lakhs is going to be tax free, here is the reference point that needs to be..
Zee News - Published

Move to new tax regime stokes concern over investments in insurance, mutual funds


newKerala.com - Published

New tax regime not for the middle class, says Mumbai-based civic activist

Mumbai-based civic activist believes the new tax regime would eventually end the habit of saving, but industrialists see it as an opportunity for investment in safe assets, like home
Mid-Day - Published

Budget 2023: Finance minister says no tax on income up to Rs 7 lakh

Basic exemption limit raised to Rs 3 lakh from existing Rs 2.5 lakh and standard deduction of Rs 50,000 allowed under new tax regime; expert says move a push to make salaried class shift from old one
Mid-Day - Published

FM Sitharaman applies Amrit-anjan balm to give middle class relief

Finance minister Nirmala Sitharaman on Wednesday said the Union Budget 2023 seeks to make it more attractive for individuals to move to the new tax regime and is aimed at benefiting the middle class...
IndiaTimes - Published

Switch hit: FM Sitharaman bats for new tax regime

Finance minister Nirmala Sitharaman has given the beleaguered tax-paying middle class a shot in the arm while seeking to make the new income tax regime more attractive. She has proposed incentives for..
IndiaTimes - Published


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