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

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

The new regime forgoes most of these. Old tax regime vs new tax regime: Standard deduction The standard deduction for salaried individuals has been increased to ₹75,000 in the new regime.

There will be no income tax payable upto income of Rs 12 lakh (i.e. average income of Rs 1 lakh per month other than special rate income such as capital gains) under the new regime. This limit ...

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.

The new tax regime has been made as a default one ... rates unchanged for salaried individuals below 60 years old. The existing tax slab rates are as follows: nil for individuals earning up ...

This can be done by eliminating the deductible allowances, such as House Rent Allowance (HRA), Leave Travel Allowance (LTA) ...

The income tax system in India operates through a progressive slab structure ... changes were introduced to the tax slabs under the new tax regime, alongside some adjustments to exemptions ...

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 ... the new slabs are for those opting for the New Tax Regime ...

The minimum tax slab has been raised to Rs 12 lakhs from ... be Rs 36,400 more than the 2024 tax slabs under the New Tax Regime and Old Tax Regime. As per the BankBazaar's calculations, a taxpayer ...

Income tax slab for AY 2025-26::Money experts say ... many tax-saving investments or have no eligible deductions. New vs old tax regime: Can I claim HRA exemption in the new regime?