https://www.taxtmi.com/circulars?id=68100 Personal income-tax reforms introduce a revised default new tax regime with concessional slabs, enhanced rebate up to specified income levels, standard deduction for salaried taxpayers, and marginal relief for resident individuals whose income is only marginally above the rebate threshold. The reforms also retain the distinction between rebate and marginal relief, exclude special-rate income such as capital gains and lottery winnings from rebate, and provide examples showing nil tax at the specified income level under the new regime. Separate amendments expand IFSC incentives, broaden the relocation regime to include retail schemes and ETFs, and rationalise business, investment, and compliance provisions. en-us Sat, 01 Feb 2025 00:00:00 +0530 Wed, 22 Apr 2026 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68100 Personal income-tax reforms introduce a revised default new tax regime with concessional slabs, enhanced rebate up to specified income levels, standard deduction for salaried taxpayers, and marginal relief for resident individuals whose income is only marginally above the rebate threshold. The reforms also retain the distinction between rebate and marginal relief, exclude special-rate income such as capital gains and lottery winnings from rebate, and provide examples showing nil tax at the specified income level under the new regime. Separate amendments expand IFSC incentives, broaden the relocation regime to include retail schemes and ETFs, and rationalise business, investment, and compliance provisions. Circulars Income Tax Sat, 01 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68100