KARACHI: The government has made some changes to tax deduction criteria for the salaried people on the demand of the International Monetary Fund (IMF), withdrawing relief given on June 10. As per the ...

Taxpayers should compare the new and old tax regimes before filing their ITR for FY26. Since India follows a slab-based tax system, only the portion of income falling within each tax slab is taxed at ...

Finance minister Nirmala Sitharaman on Saturday announced income tax cuts in her eighth consecutive Budget speech, enhancing the middle class's prowess to increase spending and consumption. Union ...

Revised Income tax slabs: Union finance minister Nirmala Sitharaman on Saturday announced that annual income up to ₹12 lakh will no longer attract any tax. The government cut personal income tax rates ...

Marginal Tax Relief Explained: For the Financial Year 2025-26, if your annual income is Rs 12,89,000, marginal tax relief will apply for you. But will you be taxed on your entire income or just on Rs ...

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, ...