As the new tax regime is the default regime now, taxpayers who want to file their return under the old tax regime – are meant to opt for it separately. These are some of the factors which should ...

From FY25 the standard deduction under the new tax regime was raised to Rs 75,000. Meanwhile the old tax regime allows taxpayers to claim a greater number of deductions and exemptions such as ...

However, this benefit is only available under the old tax regime. So if you're eyeing the new regime for its lower rates and simplified structure, you may need to reconsider your tax-saving ...

If you're a business owner shifting from the old to the new income tax regime, it’s crucial to understand how this affects your ability to carry forward and set off business losses. In the ...

Among them, 86% should have shifted from the old tax regime to the new one, while 14% would have been better off with the old regime. This highlights how important it is to compare both options ...

Under the old tax regime: If you are above 60 years of age and are receiving a pension, you can claim standard deduction up to Rs 50,000. Under the new regime: From AY 2024-25, standard deduction ...

Under the old tax regime, contributions to a recognised provident fund are eligible for deduction under Section 80C of the Income-tax Act, 1961. But under the new tax regime, no such deduction is ...

The independent OBR has confirmed that the changes to the regime will raise £33.8 billion over the next five years. “Replacing the outdated non-dom tax regime with a new internationally ...

Mr Solt suggested one "silver lining" could be that the new tax regime prompts earlier discussions ... former England rugby player Tom Youngs. The 31-year-old said although the pair had been ...

In the Old Tax Regime, NRIs below 60 years of age have a basic exemption limit of Rs 2.5 lakh, while senior citizens have a limit of Rs 3 lakh. In the New Tax Regime for the financial year 2024-25 ...

The Republican-led initiatives aim to extend and expand upon the 2017 Tax Cuts and Jobs Act (TCJA), while also introducing new measures that could significantly reshape the U.S. tax landscape.