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Last Updated:January 30, 2026, 7:22 PM IST Tax reliefs are deducted from your total annual income, while a tax rebate is applied after the tax is calculated. As Budget 2026 nears, here’s how tax relief and Section 87A rebate work. (Representative Image) Finance Minister Nirmala Sitharaman is set to present her ninth consecutive Union Budget…
Last Updated:January 21, 2026, 8:09 PM IST Budget 2026 may bring middle-class relief as experts urge adding home loan interest and Section 80D health insurance deductions to the new tax regime At present, most popular deductions are available only under the old tax regime. (AI-Generated Image) As the Centre prepares to present the Union Budget…
Last Updated:August 09, 2025, 13:44 is With ITR 2025 filing season underway, many freelancers are uncertain about how their income is taxed differently from salaried employees The ITR Filing date has been extended to September 15. (Representative Image) ITR 2025 Filing For Freelancers: With the ITR 2025 filing season underway, many freelancers and consultants are…
Income tax calculations, ITR filing for FY2526: In the new tax regime, tax slabs have been significantly revised. These slabs will be applicable for the income earned in the financial year 2025-26. The slabs that came into effect on April 1, 2025, replaced the slabs that will be applicable for FY 2024-25. With the revised…
New Delhi: The Central Board of Direct Taxes (CBDT) on Thursday issued FAQs to explain the new capital gains tax regime in Budget 2024-25. Q: What are the major changes brought about in the taxation of capital gains by the Union Budget 2024-25? A: The taxation of capital gains has been rationalised and simplified. The…
New Delhi: Finance Minister Nirmala Sitharaman, presenting the Budget 2024 in Parliament made two significant announcements for the employed people to make for those opting for the New Tax Regime. First, the standard deduction for salaried employees is proposed to be increased from Rs 50,000 to Rs 75,000. Similarly, deduction on family pension for pensioners…
New Delhi: Finance Minister Nirmala Sitharaman presented the first budget of Modi 3.0 and middle-class taxpayers were expecting some tax cuts. Their expectations were genuine because the government got bumper non-tax revenue in the form of dividends from RBI and GST collections are also rising. The central government is no longer under any obligation to…
In a massive boost for lakhs of taxpayers, FM Nirmala Sitharaman on Tuesday said that for those opting for new tax regime, FM has announced to increase the standard deduction from Rs 50,000 to Rs 75,000. Source link [ad_3]