The CBDT has clarified that the Principal Purpose Test (PPT) will apply prospectively, ensuring that past investments under ...

salaried taxpayers have been wondering whether the old income tax regime will eventually be phased out. The new income tax regime was introduced as an optional tax regime FY 2020-21 onwards.

Before proceeding further, let us first understand the tax exemptions which are allowed under the old regime but not in the new tax regime. Although there are a few exemptions that are given under ...

Also Read | Budget 2025 new vs old income tax regime: Will FM Sitharaman do away with the old regime soon? Experts weigh in The threshold limits for claiming exemption/ deductions under the old ...

Old Tax Regime vs New Ta Regime: Taxpayers often find themselves in a quandary when it comes to selecting the most suitable income tax regime. The Income Tax Department allows individuals to ...

The standard deduction limit for family pensioners is hiked to ₹25,000 under the new tax regime. The standard deduction is a flat deduction of Rs. 50,000 under the old tax regime. Money experts ...

Standard Deduction: Rs 75,000 for salaried and pensioners. In this write-up, we will analyse which tax regime — old or new — is more beneficial for individuals with an annual income of up to ...

said that scrapping the Old Tax Regime entirely and rationalising income tax slabs under the New Tax Regime is a logical next step. “Today, under the New Tax Regime, income tax has become much ...

With a higher tax-free threshold and lower rates, the new tax regime looks more appealing, but does the old regime still hold ...

has made changes in the new tax regime only. No changes have been made to the old tax regime. Last week, SBI Research shared its pre-Budget report suggesting complete elimination of all exemptions ...

The new tax regime has indeed become more appealing over the years, but many taxpayers still find that their tax outgo is lower under the old tax regime for the financial year 2024-25. On July 23 ...