https://www.taxtmi.com/article/detailed?id=12274 Income tax rates for assessment year 2025-26 remain unchanged under both the old and new regimes; the old regime continues to allow a suite of deductions and exemptions that reduce taxable income, while the new regime restricts most deductions but permits limited relief such as home loan interest and certain retirement savings deductions. The Budget also provides administrative relief by withdrawing numerous small, historical outstanding direct tax demands up to specified vintage-based thresholds, improving refundability and lowering compliance burden for affected taxpayers. en-us Thu, 01 Feb 2024 18:26:25 +0530 Thu, 01 Feb 2024 18:26:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12274 Income tax rates for assessment year 2025-26 remain unchanged under both the old and new regimes; the old regime continues to allow a suite of deductions and exemptions that reduce taxable income, while the new regime restricts most deductions but permits limited relief such as home loan interest and certain retirement savings deductions. The Budget also provides administrative relief by withdrawing numerous small, historical outstanding direct tax demands up to specified vintage-based thresholds, improving refundability and lowering compliance burden for affected taxpayers. Articles Income Tax Thu, 01 Feb 2024 18:26:25 +0530 https://www.taxtmi.com/article/detailed?id=12274