The decision between the old and new regime depends on available deductions and exemptions. If the assesse has deductions and ...

If you're planning to file your Income Tax Return (ITR) for the financial year 2024–25, it's crucial to understand the ...

The new regime offers lower tax rates, but does not allow most tax deductions. On the other hand, the old regime permits ...

How To Opt for Old Tax Regime Currently ... Taxpayers can broadly estimate and compare tax liability under the new and old tax regimes using the Income and Tax Calculator on the Income Tax ...

As the financial year 2025-26 begins, taxpayers must choose between the two income tax regimes when they file their income tax returns (ITR)—the deadline is July 31.

Opting for the new tax regime under Section 115BAC means you must forgo exemptions and deductions while computing your total income. If you are availing exemptions or deductions under the old tax ...

The tax slabs were also changed as detailed in the table. Old versus revised new tax regime: Let us consider an individual with Rs 5.5 lakh income, who avails no deductions and exemptions except ...

Salaried individuals must carefully assess their eligible deductions under the old regime and compare them with the tax savings available in the new regime to determine which option works best for ...

Though the new income tax regime will feature revamped tax slabs from April 1, 2025 onwards, the old regime offers a slew of deductions and exemptions. The new income tax regime will feature the ...

If compare it with the New Regime 2024-25 ... you need exemptions and deductions of minimum Rs 5.44 lakh to be in Old Tax Regime. The tax in this case will be same under both the regimes ...

Budget 2025 offers ₹60,000 rebate for incomes up to ₹12 lakh under new tax regime. (Representational image)(REUTERS) This makes the old tax regime, which has 5 per cent, 20 per cent ...