With Budget 2025 making income up to Rs 12 lakh tax-free under the new regime, salaried taxpayers are weighing the benefits ...

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.

How To Opt for Old Tax Regime Currently ... Taxpayers can broadly estimate and compare tax liability under the new and old tax regimes using the Income and Tax Calculator on the Income Tax ...

Old vs New Tax Regime, ITR Filing: Selection between the old and the new tax regime while filing the income tax return (ITR Filing) is as tough as selection between identical right and wrong paths ...

Opting for the new tax regime under Section 115BAC means you must forgo exemptions and deductions while computing your total income. If you are availing exemptions or deductions under the old tax ...

The tax slabs were also changed as detailed in the table. Old versus revised new tax regime: Let us consider an individual with Rs 5.5 lakh income, who avails no deductions and exemptions except ...

Salaried individuals must carefully assess their eligible deductions under the old regime and compare them with the tax savings available in the new regime to determine which option works best for ...

As many as 33 per cent selected the wrong tax regime. Among them, 86 per cent should have switched from the old to the new regime, while the rest would have gained by opting for the old regime.

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 ...

Since the government brought the new tax regime into effect in 2020, taxpayers have a choice of opting between two systems: the old regime of deductions and exemptions, and the new regime with ...

Though the new income tax regime will feature revamped tax slabs from April 1, 2025 onwards, the old regime offers a slew of deductions and exemptions. The new income tax regime will feature the ...

the new regime would be beneficial. If the claim for deductions/exemptions increases to Rs 3.80 lakh or more, then the old regime is beneficial. These comparative charts and examples suggest that, as ...