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Jul 23, 2024 · Effective from April 1, 2025, the standard deduction under Section 16 of the Income-tax Act will increase from ₹50,000 to ₹75,000 for taxpayers opting for the new tax regime. Additionally, …
Jul 26, 2025 · Yes. Under the new tax regime, for Financial Year 2025-26, a family pensioner can claim a standard deduction of ₹25,000 from their family pension income. This deduction was increased …
Jan 19, 2025 · Income Tax applies to individuals based on a slab system, where different tax rates are assigned to different income ranges. As the person's income increases,
Jul 25, 2024 · Finance Minister proposed to increase the standard deduction for salaried employees from ₹50,000 to ₹75,000. Also, deduction on family pension for pensioners is proposed to be …
Jul 23, 2024 · Also, deduction on family pension for pensioners is proposed to be enhanced from ₹15,000 to ₹25,000 under the new tax regime. This will provide relief to about four crore salaried …
Jul 24, 2024 · These amendments will take effect from the 1st day of April, 2025, and will accordingly apply to assessment year 2025-26 and subsequent assessment years. [Clauses 10 & 24]
Jan 8, 2025 · Assessee can claim Family Pension deduction of a sum equal to 33.33% or 25,000 whichever is less. This amendment will take effect from the 1st day of April, 2025, and will …
Jul 23, 2024 · The deduction amount is proposed to be increased to ₹ 25,000 from ₹ 15,000, under the new tax regime, according to the Budget announcement.
Jul 23, 2024 · While presenting the Union Budget 2024 in the Parliament, she also announced an increase of the standard deduction limit to Rs 75,000. Similarly, the deduction on family pension for …
Oct 1, 2024 · Now, if you opt for the new tax regime, for the financial year 2024-25 (AY 2025-26), and receive family pension, you can avail higher standard deduction. It’s either Rs 25,000 or one-third of …
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The Best Savings Accounts in Massachusetts for 2026
