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Starting from the financial year 2023-24 (assessment year 2024-25), the new tax regime is now the default option. Unless taxpayers specifically opt for the old tax regime, tax will be deducted based on the new system by default. However, the process of selecting a tax regime depends on the source…

New rules for TDS are going to be enforced in the country from the beginning of the financial year 2025-26. These changes were proposed in the budget of the central government itself, which will be implemented from April 1, 2025. The changes have been made to provide some relief to…

On February 13, 2025, a new income tax bill was introduced in India’s Lok Sabha (lower house of the parliament). The much-anticipated bill was first announced in 2024 during the previous year’s budget speech. India’s finance minister, Nirmala Sitharaman, highlighted that the updated income tax law (Income Tax Bill 2025)…