Finance Minister Nirmala Sitharaman has brought big cheer for middle class taxpayers - it’s a bonanza like never b ...

The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...

Under the proposed Union Budget 2025, a ₹60,000 rebate applies to incomes up to ₹12 lakh, enhancing the attractiveness of the ...

Income tax on cryptocurrency transaction. After Budget 2025 there is no change in taxation of cryptocurrencies as they ...

The Union Budget 2025-26 has delivered the largest tax exemption hike in two decades, allowing individuals earning up to Rs 12 lakh annually to pay zero income tax under the new regime. This move aims ...

Budget 2025 LIVE updates: Union Finance Minister Nirmala Sitharam's budget speech begins, and she will be introducing the ...

With the new tax slabs, the standard deduction of ₹75,000, over and above the ₹12 lakh limit under the new tax regime, furthers the agenda of driving up savings, investments and consumption.

Budget 2025 has made income up to ₹12 lakh effectively tax-free under the new tax regime. The Finance Minister increased the ...

Currently, about 74-75 per cent of taxpayers file their returns under the new income tax regime, the official said citing government data.

Vide Finance Act 2022, taxation of virtual digital assets (VDA) has been introduced in the Income-tax Act, 1961 (‘the Act’), under section 115BBH of the Act in which the transfer of VDA is to be taxed ...

In terms of GST-specific amendments, Budget 2025 also focused on pre-deposit amounts for GST appeals, reducing penalties for E-way bill violations and introducing a 10% penalty for other infractions.

The CBDT Chairman also cited the new tax regime (NTR), where there are no deductions or exemptions allowed like the old ...