The new income tax ... 87A - leaves the old tax regime, with three slabs of 5%, 20%, and 30%, with little appeal. This is after the old tax regime offers all the deductions against investments ...

In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Most small ...

These changes can result in additional savings of up to ₹17,500 for salaried taxpayers who have migrated to the new tax regime. The old regime allows taxpayers to claim a plethora of deductions ...

The introduction of the new ... lower tax rates for individual taxpayers. However, it comes with trade-offs in the form of reduced deductions and exemptions available under the old regime.

It is to be noted that while the new regime provides a lower tax rate for specific tax slabs, the old tax regime has enough room for claiming deductions ... our knowledge, all content is accurate ...

Finance Minister Nirmala Sitharaman announced an increase in the income tax rebate under the New Tax Regime ... The break-even amount comprises all deductions and allowances accessible to ...

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 ... in metro cities. All salaried staff ...

The old tax regime is available to all taxpayers ... numerous benefits, the new tax regime introduced simplifies taxation with reduced rates but fewer exemptions and deductions.

The concessions will be taken provided they do not claim deductions All other domestic companies opting for the new tax system will be taxed at 25%. The new tax regime introduces revised tax ...

However, this does not mean that the new tax rates under the new regime works best for all taxpayers ... may help them save more taxes, owing to deductions. Grant Thornton’s data shows that ...