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STANDARD DEDUCTION 2023
Income Tax AY 2026-27: Even if your salary income is below Rs 12.75 lakh, you still need to pay tax for these incomesIncome Tax AY 2026-27: Salaried individuals earning up to Rs 12.75 lakh annually may enjoy zero tax liability due to enhanced Section 87A r...- 12 years of PM Modi: Bold reforms, decisive decisions and political turning pointsAfter 12 years at the helm, Prime Minister Narendra Modi reflects on a transformative journey filled with key reforms that have altered Ind...
- To win the deep-tech race, India needs ‘General Innovation Rules’India is launching ambitious science initiatives. However, current financial rules designed for conventional procurement hinder R&D. A new ...
- Has Standard Deduction of Rs 75,000 from salary, pension income increased in Budget 2025?There were rumours that the government might hike the amount of standard deduction available to give tax relief to the middle class. Howeve...
- Budget 2025: Why standard deduction becomes a topic of high interest before every budgetBudget: There is a reason why people demand standard deduction before every Budget. If you are a businessperson, you can bring down your ta...
- Income Tax Bonanza in Budget 2024: Will FM Sitharaman make new tax regime attractive in Budget? Changes taxpayers wantBudget expectations 2024 of taxpayers: The Finance Minister, Nirmala Sitharaman, needs to make the new tax regime more attractive to taxpay...
- Standard deduction: Confused about what it means? Here's helpTo help salaried employees, the standard deduction allows for a flat deduction from salary income, compensating for some typical employment...
- Income tax relief: Budget 2024 may increase standard deduction under new income tax regimeWill Budget 2024 increase standard deduction: The Finance Minister in the 2023 Budget included a standard deduction of Rs 50,000 for salari...
- How to save income tax in new tax regime? Two deductions that salaried can claimDeductions under new tax regime: If you are planning to opt for the new tax regime in current financial year, then there are two deductions...
- What are income tax rates and slabs under the new tax regime?New tax slabs in new tax regime: If you are planning to opt for a new tax regime in the current financial year 2023-24, then here are the i...
- Standard deduction limit increased? Here's what Budget 2024 saysStandard deduction limit in interim budget 2024: The standard deduction limit was last hiked in interim budget 2019. Since then maximum ded...
- TDS on salary: How to avoid higher income tax under new, old tax regimeWith the start of the new year, employers send an email to their employees asking to submit the proofs for investment declaration made duri...
- Income Tax in Budget 2024: Will standard deduction limit be hiked from Rs 50,000 to help salaried taxpayers?Standard deduction hike in Budget 2024: It has been almost 5 years since standard deduction was revised; the previous instance was in 2019....
- What is Section 115BAC of the Income-tax Act?Section 115BAC of the Income-tax Act deals with the new tax regime introduced in the Union Budget 2020. The income tax slabs in the new tax...
- Old vs new tax regime: Who should opt for which income tax regime now?Here is an analysis showing the maximum deductions a salaried individual needs to claim in the old tax regime so that the income tax payabl...
- Three deductions that can be claimed under new income tax regime 2023To make the new income tax regime more attractive, the Budget 2023 has announced certain deductions that will be available from FY 2023-24....
- Standard deduction introduced in new tax regime for salaried, pensionersStandard deduction 2023: Standard deduction was introduced in the Union Budget 2018. This deduction was announced in lieu of transport allo...
- Which tax regime should senior citizens opt for post-budget 2023?The revised new tax regime has introduced a standard deduction of Rs 50,000 for pensioners as well including family pensioners. Thus, a sen...
- Salaried, pensioners to pay nil tax on income up to Rs 7.5 lakh in new tax regimeThe deduction and rebate in the new tax regime besides the tweak in income tax slab for individual taxpayers like salaried, pensioner and f...
- Budget 2023 income tax: Why there is a case for increased standard deduction on salaryUnion Budget 2023: An increase in the standard deduction may serve multiple purposes and provide much-needed relief to salaried taxpayers!
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