Tax Concept

India Income Tax Calculator 2025-26 | Compare Old vs New Regime India Income Tax Calculator 2025-26 Compare Old vs New Regime with all deductions and exemptions New Regime Old Regime Basic Information Annual Salary Income (₹) ₹ Standard Deduction (₹) ...

A Comprehensive Guide to India’s Revised Income Tax Structure for FY 2025-26 The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, introduced significant revisions to India’s income tax structure, primarily under the  New Tax Regime . These changes aim to offer substantial relief to middle-income taxpayers while encouraging a shift toward the simplified tax regime. With new tax slabs, increased rebates, and reduced rates for specific income brackets, the updates cater to the aspirations of millions of salaried and self-employed individuals. Here’s an in-depth exploration of these changes and their implications. Overview of the New Tax Regime The New Tax Regime, introduced in Budget 2020 as an alternative to the traditional tax structure, aimed to simplify tax compliance and eliminate the need for multiple exemptions and deductions. However, it initially received a lukewarm response due to its inability to cater adequately to middle-income taxpayers. In Budget 202...