Mathrubhumi English

Income below ₹12 lakh? You still get the ₹60k rebate in the new tax regime, even with capital gains

Experts clarified that since the person’s normal income stays below the ₹12-lakh limit, they fully qualify for the ₹60,000 ...
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Section 87A rebate rule correction: No income tax till income of Rs 12.75 lakh for salaried individuals except this income

Section 87A tax rebate does not apply to special income like short term capital gains (STCG) under the new tax regime. So even if your salary income is below Rs 12.75 lakh, your entire STCG will be ...
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Income Tax Update: Govt Amends Rules to Clarify ₹75,000 Standard Deduction in New Regime

The government has officially amended the Income Tax Act, 1961 to clarify the rules surrounding the increased standard deduction of ₹75,000 under the new tax regime. This change, first announced in ...