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

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

Switching between the old and new to the new tax regime can be done either on a ... The breakeven point is the amount at which there will be no difference in tax liability between the two tax ...

Difference between new and old tax regime on salary 1 crore Let us assume that if you are choosing the new tax slab, the in-hand salary on a salary of ₹1 crore will be around ₹70,74,220.

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.

According to Budget 2025, under the new tax system, you don’t have to pay tax on income up to ₹12.5 lakh. This is a big jump and helps many middle-income earners. The catch is that the new system ...

Amid the new ... new regime (other than those specified for e.g. 80JJAA, 80M, standard deduction). Both old and new tax regimes are available to taxpayers in 2024. The option to choose between ...

Mumbai: With the start of the new financial year 2025-26, salaried individuals are once again facing the common dilemma — which tax regime to choose: old or new? Employers are asking for ...

Since the government brought the new tax regime into effect in 2020, taxpayers have a choice of opting between two systems: the old regime of deductions and exemptions, and the new regime with ...

The Union Budget 2025 has once again brought the debate between the old and new tax regimes into focus. While the government continues to promote the new tax regime with simplified tax slabs and ...

Indian taxpayers have the option to switch between the new and old income tax regimes annually, following the changes introduced from the financial year 2023-24. The new tax regime is now the ...

Since the difference between the basic exemption limit under the old and new tax regime is Rs 1.50 lakh, which is the amount of deduction available under Section 80C, even for those who claim ...