Over 7.28 crore ITRs filed for AY25, 5.27 crore opt for New Tax Regime
The taxpayers and tax professionals made their compliances in time, leading to a surge in filing of ITRs which resulted in a new record of ITRs filed, it said.
The taxpayers and tax professionals made their compliances in time, leading to a surge in filing of ITRs which resulted in a new record of ITRs filed, it said.
As a result of these changes, the finance minister said, a salaried employee in the new tax regime stands to save up to Rs 17,500.
The new I-T slabs will be for individuals not availing or foregoing certain specified deductions or exemptions while computing total income for tax purpose.
In the new tax regime, the taxpayers' income won't include the rebates and exemptions which is included in the old regime to lower down the overall tax paid.
