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

Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.

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

According to rules, salaried individuals can switch regimes annually, while business professionals can do so only once, and ...

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.

What about standard deduction? In the old regime, you could claim ... If you don't claim many deductions or prefer simpler tax filing, the new regime might suit you. If you invest in things ...

the new tax regime could be more beneficial due to lower tax rates and a higher exemption limit. However, those who claim multiple deductions under the old regime may find it financially advantageous.

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 under Chapter VI-A against various ...

Under the new tax regime slabs, some deductions and exemptions that were available under the old tax regime slabs will no longer be applicable. The new regime does away with around 70 such ...

under the new regime. This limit will be Rs 12.75 lakh for salaried tax payers, due to standard deduction of Rs 75,000.

The standard deduction for salaried individuals ... t make many tax-saving investments or have no eligible deductions. New vs old tax regime: Can I claim HRA exemption in the new regime?