The new regime eliminates most exemptions — such as Sections 80C, 80D, HRA, and LTA — but compensates with reduced tax slabs.

Even while most focus only on standard deductions, there are several hidden credits and deductions that can significantly ...

A question that most salaried taxpayers face is if they can claim both House Rent Allowance (HRA) and home loan interest ...

The ITR deadline is September 15 and if you've opted for the new tax regime, you might be wondering: Can I still save on ...

If you choose the new tax regime, you would not be able to claim the following 7 major deductions, check them out.

Unlock higher tax refunds for FY 2024–25 by understanding eligible deductions (80C, 80D, HRA), utilising presumptive taxation, and avoiding common ITR filing errors like data mismatches and incorrect ...

The new tax regime under Section 115BAC of the Income Tax Act offers lower tax rates in exchange for giving up most ...

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

Salaried individuals can switch tax regimes annually when filing ITR; business owners can switch once; the new regime offers ...

Therefore, the maximum tax deduction would be in year one; then it would get smaller in future years. Let's assume an interest rate of 9.5% on a six-year car loan. On a $42,000 car loan in this ...

The sweeping GOP tax bill calls for an above-the-line deduction of up to $10,000 in car loan interest during a given taxable year. You'd pay no tax on that interest, if you qualified. The proposed ...

Note: When it comes to the proposed car loan interest deduction, most imported vehicles, subject to the new 25% tariff, wouldn’t meet this U.S. assembly requirement and would not be eligible for it.