Standard Deduction

The new tax regime features lower rates with fewer deductions, leading many salaried taxpayers to think they can't reduce tax liabilities. However, there are tax-saving provisions available. Here are five ways to lower your tax outgo.

A ₹60 lakh salary attracts a surcharge of 10% under the new tax regime in addition to slab-wise income tax and 4% health and education cess. In this case, the final tax liability comes to ₹15.53 lakh, resulting in an effective tax rate of 25.88%.

While the old tax regime offers a wider range of exemptions and deductions, the new tax regime still provides several tax benefits. Salaried taxpayers can benefit from the standard deduction of ₹75,000, making income up to ₹12.75 lakh effectively tax-free in the new regime.

The new tax regime offers lower rates but fewer deductions, leading many salaried taxpayers to reconsider the old regime.

Marginal relief helps those earning slightly above a certain tax limit, making the tax burden more manageable under both the old and new tax regimes and ensuring fair taxation across all income levels. Full details here.

Salaried employees can choose between old and new income tax regimes, while the new tax regime remains the default option. The Union Budget 2026 maintained existing tax slab rates. Here's what all you should consider before making a choice.

While the new labour law has altered salary structures, affecting in-hand pay and tax implications, choosing between the new and old tax regimes depends on applicable tax slabs and deductions.

President Donald Trump has claimed the U.S. is seeing the largest tax refund season in history under his new tax law. While supporters welcomed the projected higher refunds, critics on social media disputed the claims, arguing key tax benefits are temporary and misleading.

Budget 2026: Income tax cut always remains a hope for taxpayer during Union Budgets. On 1 February, FM Nirmala Sitharaman will present her ninth consecutive Budget. What's in store for taxpayers?

Ahead of Budget 2026, Finance Minister Nirmala Sitharaman's past budgets delivered tax relief up to ₹12.75 lakh for salaried individuals, introduced a simplified tax regime exempting incomes up to ₹7.75 lakh, and overhauled capital gains taxes on both short-and long-term gains.