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.

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 ...

So, if you are a taxpayer and confused about whether the new tax regime is better for you or the old tax regime, you can use the tax calculator. To access the income tax calculator where you can ...

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 ...

If you are still confused about how to choose between the old and new tax regimes ... in the new tax regime such as 80C, health insurance u/s 80D. Step 8: The tax calculator will show you ...

Representational image New Tax Regime Calculator 2023-24 (Online): Finance ... 2023-24), you will have to file Income Tax Return as per the old tax slabs. As per the latest tax slabs under the ...

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 ...