The new tax regime is the default option, so you don’t need to actively choose it. However, if you wish to opt for the old tax regime, you must specifically select it. What is the ideal tax ...

While the government’s push for the new tax regime has made it the default option, many salaried individuals still find the old system more beneficial — especially those who actively utilize ...

Small businesses and professionals with turnovers up to ₹2 crore and ₹24 lakh see an opportunity to pay zero tax through the presumptive taxation option under the new regime. But, some experts ...

The new tax regime is now the default option. If you wish to continue with the old tax regime, you must inform your employer. Evaluate your investments and deductions before deciding.

ITR filing 2025: As the income tax department has released ... Those without such income can opt out of the new regime by selecting the "Opting out of new regime" option in the ITR form.

Failure to declare a preference results in automatic taxation under the new regime, which is now the default option. This default mechanism aims to streamline tax deduction at source (TDS ...

Tax liability can be worked out with indexation (20 per cent) or without indexation (12.50 per cent). You may choose the option where ... broadly speaking, the new tax regime may be more suitable ...

While both tax regimes have their pros and cons, the new tax regime is now more attractive and a better option for many individuals. The selection between the two depends on the taxpayers’ total tax ...

“Individual taxpayers can switch between the old and new tax regime on a year-on-year basis, whereas those individual taxpayers deriving any income from business or profession who have exercised the ...

Rental Income Under New Tax Regime ... exemptions under this regime, making it a good option for them. Income from house property (IFHP) refers to money earned from properties like homes, shops, ...

Increased monthly cash flow As you're not tying up money in long-term tax-planning schemes, you've more flexibility to use your salary as you please – for spending, saving, or investing. Taxpayers ...