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  2. New Tax Regime - Wikipedia

    en.wikipedia.org/wiki/New_Tax_Regime

    FY2021-22 was an uneventful year for the New Tax Regime as no new changes were announced except the relaxation of Income Tax filing for senior citizens over 75 years. [26] The government's tax policy for the near future was clearly outlined which indicated that all tax breaks will be gradually eliminated while maintaining a low tax rate.

  3. Income tax in India - Wikipedia

    en.wikipedia.org/wiki/Income_tax_in_India

    Currently, Indian taxpayers can choose between the old tax regime and the new tax regime. [12] At the time of introduction, it had 7 different slabs. After three years from introduction, Indian Government reduced both the slab count & tax rates under New Tax Regime in Budget 2023, after reports of poor adoption to new tax regime by tax payers [13]

  4. 2024 Union budget of India - Wikipedia

    en.wikipedia.org/wiki/2024_Union_budget_of_India

    The capital gains tax structure has also undergone changes: Short-Term Capital Gains (STCG): The tax rate on short-term capital gains from shares, mutual funds, and real estate has been increased from 15% to 20%. [9] Long-Term Capital Gains (LTCG): The tax rate on long-term capital gains has been set at 12.5%. Additionally, the exemption limit ...

  5. 2024 Tax Brackets and Income Rates: Find Out Where You ... - AOL

    www.aol.com/2024-tax-brackets-income-rates...

    2023 Tax Brackets and Income Tax Rates. Tax returns for 2023 were due on April 18, 2024, for most filers.If you secured an extension by tax day, your new federal filing deadline was Oct. 16, 2024.

  6. What’s New for Tax Filing in 2023? - AOL

    www.aol.com/tax-filing-2023-200103987.html

    Here are the most important changes for tax filing in 2023. Tax Filing Date. Taxes are due Tuesday, April 18. Traditionally, filing day is April 15. ... What’s New for Tax Filing in 2023? Show ...

  7. Some might see a bigger 2024 tax refund after inflation ...

    www.aol.com/finance/might-see-bigger-2024-tax...

    For the 2023 tax year, the Earned Income Tax Credit (EITC) will increase to $7,430 for qualifying taxpayers who have three or more qualifying children, a $495 gain from $6,935 for the 2022 tax year.

  8. Taxation in India - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_India

    However, for individuals, tax is payable at slab rates. In the Finance Act, 2020 the Government introduced a new tax regime for individuals giving them the option to opt for the new regime or continue with the old regime. [11] The tax is collected by the Income Tax Department for the central government. Farmers - who constitute 70% of the ...

  9. Taxes 2023: Here are the biggest tax changes this year - AOL

    www.aol.com/finance/taxes-2023-biggest-tax...

    Similarly, the Child and Dependent Care credit — which includes out-of-pocket expenses for child care and day camps — is worth up to $2,100 for the 2022 tax year, down from $8,000 for the 2021 ...

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