Tag Archives: New income tax

In order to encourage the new optional income tax regime introduced in the last Budget, the government proposes to modify the list of eligible refunds and exemptions to allow some more categories of financial saving instruments for taxpayers. The emerging vision in the discussions in the run-up to the Union …

India’s income tax law provides special benefits to elderly residents and the very old. A person between 60 and 80 years of age is called a “senior citizen” and a person over 80 is a “citizen of very old age”. The income tax benefits available to seniors and seniors range …