How to Opt for Old Tax Regime Currently, a taxpayer with income from a business or profession is required to file Form 10IE to opt for the new tax regime. This form was introduced in October 2020.

Switching between the Old Regime and the New Regime is possible for individuals, allowing their annual tax regime to alternate between the previous and new regimes if certain conditions are met.

A comparison of the two regimes would clearly indicate that the intention of the Government is to streamline the process and ...

Do you know that a large part of your earnings goes in the form of tax? But now this will not happen! The central government has made such changes in the new tax system that will leave more money in ...

With Budget 2025 raising break-even limits, tax savings under the old regime seem tougher. But for salaried couples in ...

JCIT (A) upheld the CPC’s action, stating that under section 115BAC, once the option for the new regime is exercised, it cannot be withdrawn for the current year, only for subsequent years. However, ...

Agrawal discussed a range of topics, including framing of tax proposals, and why he feels most taxpayers would opt for the ...

The government introduced a new tax regime of lower tax rates in Budget 2020, which continues in FY 2025-26. In Budget 2025, the government pushed for the adoption of the new tax regime of lower tax ...

The government has revised the tax structure under the new regime with Finance Minister Nirmala Sitharaman announcing that ...

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