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Searched Tag: income tax exemptions new budget
The ministry said the government policy wants to phase out tax incentives, deductions and exemptions in the medium-term while simultaneously rationalising the rates of tax

FinMin seeks industry inputs on tax changes in FY27 Budget

October 28, 2025, 07:29 PM - 2 min read

The Revenue Department’s ‘tax research unit’ has sought suggestions from trade and industry representatives on ways to increase ease of compliance and expected tax rate change in the Union Budget for the 2026-27 fiscal, which will be presented on February 1, 2026

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No tax till 3 lakh income under new tax regime

No tax till 3 lakh income under new tax regime

July 23, 2024, 12:52 PM - 2 min read

The Standard Deduction limit has been raised to Rs 75,000 by the government, allowing those employed to potentially save up to Rs 17,500 in taxes under the new system, up from the previous Rs 50,000.

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