In a landmark announcement, Finance Minister Nirmala Sitharaman has unveiled major changes to India’s income tax structure. Under the new tax regime, individuals earning up to ₹12 lakh annually will now pay zero tax. The move aims to make India’s tax system more equitable, growth-oriented, and supportive of the middle class. New Income Tax Slabs […]
India is gearing up for one of its most significant tax reforms in decades — the Direct Tax Code (DTC) — set to replace the Income Tax Act of 1961. Slated for implementation by April 2025, the DTC aims to simplify tax laws, widen the taxpayer base, and bring India’s taxation framework closer to global
Many salaried professionals in India wonder whether earning ₹10 lakh a year can be completely tax-free. The short answer is no. Under the latest income tax rules, including changes introduced in the Union Budget for FY 2024-25, a ₹10 lakh income falls into a higher tax bracket, making it taxable. However, with the right planning
The income tax structure in India has undergone significant changes following the Union Budget 2024. The government has revised tax slabs and increased exemptions, aiming to simplify compliance and reduce the tax burden for individuals. Whether you’re a salaried professional, senior citizen, or pensioner, staying informed about the latest tax updates is crucial for smarter
