Tag: new tax regime

Finance Minister Nirmala Sitharaman announced an increase in the income tax rebate limit from Rs 5 lakh to Rs 7 lakh under the new tax regime. She added that while the new tax regime would be the default, taxpayers could opt for the old one. The …

The Finance Minister, Nirmala Sitharaman, presented the Union Budget, 2020, and introduced a new income tax slab. The new tax regime was introduced for regular individuals, senior citizens, and HUF, wherein they can pay taxes at lower income tax slab rates. Let’s check the income tax …