On ET Now, experts compare the old and new tax regimes, highlighting the benefits of the new system. The new tax regime offers lower tax rates but eliminates most deductions and exemptions. While ...

The Union Budget 2025-26 has kept the tax slab rates unchanged for salaried individuals below 60 years old. The existing tax slab rates are as follows: nil for individuals earning up to INR 2.5 ...

Old vs New Tax Regime: The old tax regime provides deductions under Sections 80C, 80D, 80TTA of the Income Tax Act, 1961, while there are no such deductions under the new tax regime.

Old versus revised new tax regime: Now let’s consider a salaried taxpayer with an income of Rs 65 lakh. We are assuming that the person avails Rs 2 lakh as housing loan/HRA benefit, Rs 50,000 as ...

Income tax slabs in India 2024-25: Old vs new tax regime, deductions and more; ... It is crucial to analyze both tax regimes and compare them before deciding on which one to choose.

Many taxpayers are unaware of the income tax slabs that will apply to their income under the new tax regime, which is ...

While there are limited exemptions available under the new tax regime, taxpayers with a gross income exceeding Rs 24.75 lakhs will find the new tax regime beneficial if their total deductions and ...

Old vs new tax regime: As the financial year has ended, taxpayers will now begin gathering their documents to file their income tax returns (ITR) before the deadline of July 31, 2025. Just like ...

In the new tax regime, most deductions cannot be claimed, barring the deductions given under sections 80CCD(2)/ 80CCH and 80JJAA as per the provision of Section 115BAC of the Income Tax (I-T) Act ...

Shefali Mundra, tax expert, ClearTax, is of the view that the old regime may still suit those with substantial deductions. "The changes reduce the need for complex documentation and for investing ...

Although the new regime is intended to streamline the tax process, it isn't for everyone—particularly those who regularly avail deductions under different sections of the Income Tax Act. 1.

This tool allows individuals to compare their tax liability under both the old and new tax regimes by entering their income and eligible deductions. Written by PF Desk February 11, 2025 18:59 IST ...