New Delhi: The Finance Minister Nirmala Sitharaman has announced a hike in tax rebate under Section 87A for resident individuals having net taxable income up to Rs 12 lakh will pay zero tax For Financial Year 2025-26 (Assessment year 2026-27) under the new tax regime. The Current resident individual taxpayer allowed zero tax on income
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New Delhi, Feb 1 (PTI) Individuals earning up to Rs 12 lakh annually will not have to pay any income tax under the new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class by raising exemption limit and rejigging slabs. For salaried employees, this nil tax limit will be Rs
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NEW DELHI, Dec 26 (Reuters) – The government is considering cutting income tax for individuals making up to 1.5 million rupees ($17,590) a year in February’s budget to provide relief to the middle class and boost consumption as the economy slows, two government sources told Reuters. The move could benefit tens of millions of taxpayers,
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New Delhi, Apr 1 (PTI) The finance ministry on Monday said there is no change in the new income tax regime for individuals for the current fiscal year and individual taxpayers can opt out of the regime at the time of filing their ITR. Clarifying on social media posts claiming certain changes in the new
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