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

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

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

Although the new tax regime ... unlike 20 percent in the old tax regime. Check the table below for the entire tax slab. It is recommended to use the income tax calculator to assess the exact ...

Individuals can use this calculator to assess which tax regime ... 4 lakh by revising the income tax slabs. Unlike the old tax regime, the new tax regime offers limited deductions to the taxpayers.

Income tax calculator FY 2025-26 The new tax regime is better than the old tax regime for income up to Rs 12 lakh (Rs 12.75 lakh for salaried people), even if one avails of the maximum possible ...

The new tax regime has been made as a default ... and compare tax liability under the new and old tax regimes using the Income and Tax Calculator on the Income Tax Portal. Which form should ...

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 ...

Tax calculator 2025 ... One common dilemma they face is whether to continue with the Old Tax Regime or switch to the New Tax Regime. In her Budget 2025 address, FM Nirmala Sitharaman announced ...

This comparison clearly shows that for an individual earning Rs 15 lakh per annum, the old tax regime offers a tax saving of Rs 48,100 compared to the new tax regime — provided they make ...

Though the new income tax regime will feature revamped tax slabs from April 1, 2025 onwards, the old regime offers a slew of deductions and exemptions. The new income tax regime will feature the ...