Salary income: The standard deduction of INR 75,000 will continue for new regime taxpayers, compared to INR 50,000 under the old tax regime. The new tax regime provides a total rebate of INR ...

Here's everything you need to know about which deductions are claimable under the new tax regime 2025-26 and the benefits ...

New Tax Regime (FY 2024-25) The new tax regime for FY 2024-25 gives a rebate under Section 87A, so if your income doesn't cross Rs 7 lakh, you won't have to pay any tax. The revised tax slabs are ...

Old tax regime vs new tax regime: Key differences The old regime allows you to claim various deductions and exemptions (eg, under Section 80C, 80D, HRA). The new regime forgoes most of these.

On the other hand, the old tax regime provides several deductions under various Sections of the Income Tax Act, 1961, though the tax rates are higher. New tax regime slabs (for taxpayers below 60 ...

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 ...

There are a range of income tax exemptions which are available only in the old tax regime and not in the new tax regime. These include those given under 80C, 80D, CCD(1B) and 80D and 80G.

The new income tax regime will feature the revamped tax slabs from April 1, 2025 onwards, with individuals not requiring to pay any tax if their income does not exceed ₹ 12 lakh.. Many of those ...

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 ...

Old Regime vs New Regime: A Comparison. To compare the tax payable between the two regimes, we can take an annual income of Rs 16 lakh as an example.

0. New Tax Regime Vs Old Tax Regime: The Centre in the July Union Budget introduced some changes in the new tax regime, increasing Standard Deduction by Rs 25,000 to Rs 75,000 and tweaking the slab.