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.

This facility is not available in the new regime. Your income falls in a higher tax bracket. The highest tax rate of 30% in the old tax regime applies to income of Rs 10 lakh, while in the new tax ...

The 5 per cent tax bracket is now Rs 4 lakh - Rs 8 lakh ... specifies that the new slabs are for those opting for the New Tax Regime, in line with the Centre's push for this new regime that ...

Salaried taxpayers in the new tax regime stand to save ₹17,500 in income ... “Salaried taxpayers who fall in the highest tax bracket i.e. 30 percent stand to benefit incrementally on their ...

The new regime, on the other hand ... which increases to 10% in the Rs 8 lakh to Rs 12 lakh bracket. The tax rates for the brackets of Rs 12 lakh to Rs 16 lakh, Rs 16 lakh to Rs 20 lakh, and ...

Leave Travel Allowance (LTA) is a common perk in many salary packages, yet with two tax regimes in place, people often ask if ...

So, taxpayers in the highest tax bracket have no extra incentive to opt for the new tax regime. IV. When the tax calculator suggests you opt for it: As they say, there is always more than what ...

"The Rs 7.5-10 lakh bracket is levied at 10 per cent and ... with a salary of Rs 9 lakh without any investments, the new regime's tax (Rs 45,000) is less than the old regime's Rs 92,500. " ...

New Tax Regime vs Old Tax Regime Slabs and Rates ... This break-even level of Rs 8 lakh applies specifically to the 30% tax bracket, which covers income above Rs 24 lakh. For those earning ...

Also Read | Income Tax Slabs FY 2025-26 explained: 20 FAQs individual taxpayers should check to understand tax rates, income tax benefit under new tax regimeFor the tax brackets of Rs 20,00,001-24 ...