It is important to note that your taxable income includes income from various sources, such as salary ... tax is payable in the old tax regime as compared to the new tax regime. Here is an example ...

While both the old ... tax regime when filing the personal tax return. For example, at the beginning of the year, an employee opts for the new tax regime and the employer deducts tax based on slab ...

Many of those who use the old regime may consider switching to the new one since the Union Budget 2025 has substantially brought down the slab rates ... the basic salary in the old tax regime ...

The 5 per cent tax bracket is now Rs 4 lakh - Rs 8 lakh, up from Rs 3 lakh - Rs 7 lakh earlier. The Rs 7 lakh - Rs 10 lakh slab ... can claim under the old regime. For example, if your income ...

New tax slabs for 2025-26 increase tax-free income to ₹12.75 lakh for salaried individuals (including ₹75,000 standard ...

As you can see in the table, in the Rs 8 lakh salary bracket, you need deductions of Rs 2 lakh to pay the same tax (Rs 23,400 ... the standard deduction of Rs 50,000 under the old regime. For example, ...

For example, the standard deduction from taxable salary was increased to Rs 75,000 from Rs 50,000 (as available in the old tax regime) in Budget 2024.

comparison between tax outgo as per proposed new tax regime and old tax regime for a salaried employee earning salary of Rs. 13 lakhs and eligible to claim deductions/exemption of INR3.5 lakhs, other ...

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 ... in higher salary brackets who ...

The decision can have a significant impact on your take-home salary and ... The old tax regime features a basic exemption limit of Rs 2,50,000, with the highest tax slab at 30% for income above ...

Mumbai: The government in the Union Budget 2024-25 presented on Tuesday revised the tax slab rates ... for the New Tax Regime. “For example, any individual with a basic salary plus dearness ...

The employer's contribution to the National Pension System (NPS) account will be different in the two regimes, with up to 10 per cent of the basic salary in the old ... regime with the revised tax ...